Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-84-102. Valuation of reserves by Insurance Commissioner

(1)(A) The Insurance Commissioner shall annually value, or cause to be valued, the reserves for all outstanding life insurance issued by a company on or after January 1, 1960, and before the operative date of the valuation manual.

(B) In calculating the reserves, the commissioner may use group methods and approximate averages for fractions of a year or otherwise;

(3)(A) Sections 23-84-103 -- 23-84-111, 23-84-113, and 23-84-114 apply to a policy or contract issued on or after January 1, 1960, and before the operative date of the valuation manual.

(B) Sections 23-84-115 and 23-84-116 do not apply to a policy or contract issued on or after January 1, 1960, and before the operative date of the valuation manual; and

(1)(A) The commissioner shall annually value or cause to be valued the reserves for all outstanding policies or contracts of a company issued on or after the operative date of the valuation manual.

(B) In lieu of the valuation of the reserves required of a foreign or alien company, the commissioner may accept a valuation made or caused to be made by the public official or regulatory authority responsible for regulating insurance companies of another state or jurisdiction if the valuation complies with the minimum standard provided by this chapter; and