14 Va. Admin. Code § 5-323-40 – Minimum valuation interest rate standards. | Midpage

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Virginia Administrative Code

§ 40

14 Va. Admin. Code § 5-323-40

Minimum valuation interest rate standards.

Effective Jan 1, 2015Virginia Register Volume 31, Issue 9§§ 12.1-13 and 38.2-223 of the Code of Virginia.State Corporation Commission, Bureau of Insurance

A. The interest rates used in determining the minimum standard for valuation of preneed insurance shall be the calendar year statutory valuation interest rates as defined in § 38.2-1371 of the Code of Virginia.
B. The interest rates used in determining the minimum standard for nonforfeiture values for preneed insurance shall be the calendar year statutory nonforfeiture interest rates as defined in § 38.2-3209 of the Code of Virginia.

Statutory Authority

§§ 12.1-13 and 38.2-223 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 25, Issue 8, eff. January 1, 2009; amended, Virginia Register Volume 31, Issue 9, eff. January 1, 2015.