33-2-537. Reserve calculation -- indeterminate premium plans -- minimum standards for disability plans. (1) In the case of a plan of life insurance that provides for future premium determination, the amounts of which are to be determined by the insurer based on then estimates of future experience, or in the case of a plan of life insurance or annuity that is of a nature that the minimum reserves cannot be determined by the methods described in 33-2-525 and 33-2-526(3), the reserves that are held under the plan must:
     (a) be appropriate in relation to the benefits and the pattern of premiums for that plan; and
     (b) be computed by a method that is consistent with the principles of 33-2-521 through 33-2-529.
     (2) The commissioner may promulgate a rule containing the minimum standards applicable to the valuation of disability plans.

     History: En. Sec. 76, Ch. 379, L. 1995; amd. Sec. 7, Ch. 531, L. 1997.