United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 24-A, § 955: Minimum reserves, 1969

Minimum reserve amounts must be at least the levels calculated under the cited methods and actuary opinion.

insurance reserveslife insurance

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“Minimum reserve amounts must be at least the levels calculated under the cited methods and actuary opinion.”

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    Enacted 1969 · Source version 1 Oct 2025. The date shown identifies this source expression and should not be treated as proof that no later change exists.

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Minimum reserves

Minimum reserve amounts must be at least the levels calculated under the cited methods and actuary opinion.

Section 955

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Source record from legislature.maine.gov · Enacted 1969 · Source version 1 Oct 2025

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Provision
§ 955Minimum reservesProvision

Minimum reserve amounts must be at least the levels calculated under the cited methods and actuary opinion.

1. Minimum aggregate reserves for life insurance policies. An insurer's aggregate reserves for all life insurance policies, excluding disability and accidental death benefits, that are subject to section 953, subsection 2 may not be less than the aggregate reserves calculated in accordance with the method set forth in sections 954 and 957‑A and the mortality table or tables and rate or rates of interest used in calculating nonforfeiture benefits for these policies. [PL 1993, c. 634, Pt. B, §2 (NEW).] 2. Minimum aggregate reserves for all policies. The aggregate reserves for all policies, contracts and benefits may not be less than the aggregate reserves determined necessary by the appointed actuary in the opinion required by section 952‑A. [PL 2013, c. 238, Pt. C, §7 (AMD).]
Section 955Verify source

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  • 1 Oct 2025 · currentEnglish

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