58-26-79. Standards for calculating reserves for policies, contracts or benefits issued on or after July 1, 1995.
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/sd/title-58/chapter-58-26/58-26-79·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Reserves for any category of policies, contracts, or benefits as established by the director, issued on or after July 1, 1995, may be calculated, at the option of the company, according to any standards which produce greater aggregate reserves for any category than those calculated according to the minimum standard provided in this chapter, but the rate or rates of interest used for policies and contracts, other than annuity and pure endowment contracts, may not be greater than the corresponding rate or rates of interest used in calculating any nonforfeiture benefits provided in the policies or contracts.