California Insurance Code

§ 10509.960

INS § 10509.960 Effective Jan 1, 1997Div. 2 · Part 2 · Ch. 5.5

Statute text

(a)The board of directors of each insurer shall appoint one or more illustration actuaries.

(b)The illustration actuary shall certify that the disciplined current scale used in illustrations is in conformity with the Actuarial Standard of Practice for Compliance with the NAIC Model Regulation on Life Insurance Illustrations promulgated by the Actuarial Standards Board, and that the illustrated scales used in insurer-authorized illustrations meet the requirements of this chapter.

(c)The illustration actuary shall comply with all of the following:

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Legislative history

Added by Stats. 1996, Ch. 1106, Sec. 1. Effective January 1, 1997. Section operative July 1, 1997, pursuant to Section 10509.965.