31A-17-509 - Minimum reserves. - Utah Statutes

31A-17-509. Minimum reserves.
(1) In no event shall a company's aggregate reserves for all life insurance policies,excluding accident and health and accidental death benefits, issued on or after January 1, 1994, beless than the aggregate reserves calculated in accordance with the methods set forth in Sections31A-17-507, 31A-17-508, 31A-17-511, and 31A-17-512 and the mortality table or tables and rateor rates of interest used in calculating nonforfeiture benefits for such policies.
(2) In no event shall the aggregate reserves for all policies, contracts, and benefits be lessthan the aggregate reserves determined by the qualified actuary to be necessary to render theopinion required by Section 31A-17-503.

Amended by Chapter 116, 2001 General Session