38.2-3132 - Computation of minimum valuation standard of policies subsequently issued. - Virginia Statutes

§ 38.2-3132. Computation of minimum valuation standard of policiessubsequently issued.

The interest rates used in determining the minimum standard for the valuationof the following items shall be the calendar year statutory valuationinterest rates as defined in §§ 38.2-3130 through 38.2-3136:

1. All life insurance policies issued in a particular calendar year, on orafter the operative date of § 38.2-3209;

2. All individual annuity and pure endowment contracts issued in a particularcalendar year on or after January 1, 1983, except that an insurer may electfor this to apply to all individual annuity and pure endowment contractsissued after July 1, 1982;

3. All annuities and pure endowments purchased in a particular calendar yearon or after January 1, 1983, under group annuity and pure endowmentcontracts; and

4. Any net increase in a particular calendar year after January 1, 1983, inamounts held under guaranteed interest contracts.

(Code 1950, § 38-394; 1952, c. 317, § 38.1-456; 1959, Ex. Sess., c. 43; 1962,c. 562; 1975, c. 215; 1979, c. 437; 1982, c. 227; 1986, c. 562.)