Browse Arkansas Code titles and sections
23-84-107. Calculation of reserves — Certain annuity and pure endowment contracts.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-84-107. Calculation of reserves — Certain annuity and pure endowment contracts.
(a) This section shall apply to all annuity and pure endowment contracts other than group annuity and pure endowment contracts purchased under a retirement plan or plan of deferred compensation, established or maintained by an employer, including a partnership or sole proprietorship, or by an employee organization, or by both, other than a plan providing individual retirement accounts or individual retirement annuities under section 408 of the Internal Revenue Code, as now or hereafter amended.
(b)(1) Reserves according to the Insurance Commissioner's annuity reserve method for benefits under annuity or pure endowment contracts, excluding any disability and accidental death benefits in the contracts, shall be the greatest of the respective excesses of the present values, at the date of valuation, of the future guaranteed benefits, including guaranteed nonforfeiture benefits, provided for by the contracts at the end of each respective contract year, over the present value, at the date of valuation, of any future valuation considerations derived from future gross considerations, required by the terms of the contract, that become payable prior to the end of the respective contract year.
(2) The future guaranteed benefits shall be determined by using the mortality table, if any, and the interest rates specified in the contracts for determining guaranteed benefits.
(3) The valuation considerations are the portions of the respective gross considerations applied under the terms of the contracts to determine nonforfeiture values.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-84-107
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:23-84-107
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: a0eaee4b18f73cb93b5f47c2da7943d3c4d7bc7efe8bc9dfee246b0179ac80e9
Source location: content.xml paragraph 50874
Stored source content
23-84-107. Calculation of reserves — Certain annuity and pure endowment contracts.
(a) This section shall apply to all annuity and pure endowment contracts other than group annuity and pure endowment contracts purchased under a retirement plan or plan of deferred compensation, established or maintained by an employer, including a partnership or sole proprietorship, or by an employee organization, or by both, other than a plan providing individual retirement accounts or individual retirement annuities under section 408 of the Internal Revenue Code, as now or hereafter amended.
(b)(1) Reserves according to the Insurance Commissioner's annuity reserve method for benefits under annuity or pure endowment contracts, excluding any disability and accidental death benefits in the contracts, shall be the greatest of the respective excesses of the present values, at the date of valuation, of the future guaranteed benefits, including guaranteed nonforfeiture benefits, provided for by the contracts at the end of each respective contract year, over the present value, at the date of valuation, of any future valuation considerations derived from future gross considerations, required by the terms of the contract, that become payable prior to the end of the respective contract year.
(2) The future guaranteed benefits shall be determined by using the mortality table, if any, and the interest rates specified in the contracts for determining guaranteed benefits.
(3) The valuation considerations are the portions of the respective gross considerations applied under the terms of the contracts to determine nonforfeiture values.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
No explicit source connection was found. This does not mean there are no relevant authorities.