ORS 733.316
Aggregate reserves
(1)
The aggregate reserves of an insurer for all life insurance policies, excluding disability and accidental death benefits, issued on or after the operative date stated in ORS 743.204 (Standard Nonforfeiture Law for Life Insurance) for the Standard Nonforfeiture Law for Life Insurance, shall not be less than the aggregate reserves calculated in accordance with the methods set forth in ORS 733.312 (Amount of required reserves for life insurance policies), 733.314 (Amount of required reserves for certain annuity and pure endowment contracts), 733.320 (Minimum required reserve for certain policies) and 733.322 (Calculation of reserves for plans for which minimum reserves cannot be determined under ORS 733.312, 733.314 or 733.320) and the mortality table or tables and rate or rates of interest used in calculating nonforfeiture benefits for such policies.(2)
The aggregate reserves of an insurer for all policies, contracts and benefits shall not be less than the aggregate reserves determined by the qualified actuary to be necessary to render the opinion required by ORS 733.304 (Opinion of actuary). [1991 c.401 §25; 2015 c.547 §24](2)
The aggregate reserves of an insurer for all policies, contracts and benefits may not be less than the aggregate reserves that the appointed actuary determines to be necessary to render the opinion required by ORS 733.304 (Opinion of actuary).
Source:
Section 733.316 — Aggregate reserves, https://www.oregonlegislature.gov/bills_laws/ors/ors733.html.
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