1. (a)

   1. (1) For any policy of insurance delivered or issued for delivery in this state after the operative date of Arkansas Code § 23-81-209(h)(2)(I) for that policy form and before January 1, 1989, at the option of the company and subject to the conditions stated in 23 CAR § 98-104 the 1958 CSO Smoker and Nonsmoker Mortality Tables may be substituted for the 1980 CSO Table, with or without Ten-Year Select Mortality Factors, and the 1958 CET Smoker and Nonsmoker Mortality Tables may be substituted for the 1980 CET Table for use in determining:

      1. (A) Minimum reserve liabilities;
      2. (B) Minimum cash surrender values; and
      3. (C) Amount of paid-up nonforfeiture benefits.
   2. (2) Provided that for any category of insurance issued on female lives with minimum reserve liabilities, minimum cash surrender values, and amounts of paid-up nonforfeiture benefits determined using the 1958 CSO or 1958 CET Smoker and Nonsmoker Mortality Tables, such minimum values may be calculated according to an age not more than six (6) years younger than the actual age of the insured.
   3. (3) Provided further that the substitution of the 1958 CSO or 1958 CET Smoker and Nonsmoker Mortality Tables is available only if made for each policy of insurance on a policy form delivered or issued for delivery on or after the operative date for that policy form and before a date not later than January 1, 1989.

2. (b) For any policy of insurance delivered or issued for delivery in this state after the operative date of Arkansas Code § 23-81-209(h)(2)(I) for that policy form, at the option of the company and subject to the conditions stated in 23 CAR § 98-104, the 1980 CSO Smoker and Nonsmoker Mortality Tables, with or without Ten-Year Select Mortality Factors, may be substituted for the 1980 CSO Table, with or without Ten-Year Select Mortality Factors, and the 1980 CET Smoker and Nonsmoker Mortality Tables may be substituted for the 1980 CET Table for use in determining:

   1. (1) Minimum reserve liabilities;
   2. (2) Minimum cash surrender values; and
   3. (3) Amount of paid-up nonforfeiture benefits.

Codification Notes: “CSO” means Commissioners Standard Ordinary. "CET" means Commissioners Extended Term.