58-26-46. Annual opinion of qualified actuary required--Promulgation of rules.
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/sd/title-58/chapter-58-26/58-26-46·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any life insurance company doing business in this state shall annually submit the opinion of a qualified actuary as to whether the reserves and related actuarial items held in support of the policies and contracts specified by the director are computed appropriately, are based on assumptions which satisfy contractual provisions, are consistent with prior reported amounts and comply with applicable laws of this state. The director shall promulgate rules pursuant to chapter 1-26 to specify the policies and contracts for which an opinion is required and to define the specifics of this opinion and add any other items deemed to be necessary to its scope.