No. 38968 (5-year Review): Rule R590-198. Valuation of Life Insurance Policies Rule  

  • DAR File No.: 38968
    Filed: 11/21/2014 10:43:43 AM

    NOTICE OF REVIEW AND STATEMENT OF CONTINUATION

    Concise explanation of the particular statutory provisions under which the rule is enacted and how these provisions authorize or require the rule:

    Sections 31A-17-402 and 31A-17-512 authorize the commissioner to adopt a method for computing reserves for life insurance policies. Sections R590-198-5, R590-198-6, and R590-198-7 specifically set standards for determination of reserves for different types of life policies.

    Summary of written comments received during and since the last five-year review of the rule from interested persons supporting or opposing the rule:

    The department has not received any written comments regarding this rule in the past five years.

    Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:

    This rule ensures that life insurance companies will maintain an adequate level of reserves to pay future life insurance claims. Therefore, this rule should be continued.

    The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

    Insurance
    Administration
    Room 3110 STATE OFFICE BLDG
    450 N MAIN ST
    SALT LAKE CITY, UT 84114-1201

    Direct questions regarding this rule to:

    Effective:

    11/21/2014

    Authorized by:

    Todd Kiser, Commissioner


Document Information

Effective Date:
11/21/2014
Publication Date:
12/15/2014
Type:
Five-Year Notices of Review and Statements of Continuation
Filed Date:
11/21/2014
Agencies:
Insurance, Administration
Authorized By:
Todd Kiser, Commissioner
DAR File No.:
38968
Summary:

The department has not received any written comments regarding this rule in the past five years.

CodeNo:
R590-198
CodeName:
{35478|R590-198|R590-198. Valuation of Life Insurance Policies Rule}
Link Address:
InsuranceAdministrationRoom 3110 STATE OFFICE BLDG450 N MAIN STSALT LAKE CITY, UT 84114-1201
Link Way:

Steve Gooch, by phone at 801-538-3803, by FAX at 801-538-3829, or by Internet E-mail at sgooch@utah.gov

AdditionalInfo:
More information about a Five-Year Notice of Review and Statement of Continuation is available online. The Portable Document Format (PDF) version of the Bulletin is the official version. The PDF version of this issue is available at http://www.rules.utah.gov/publicat/bull-pdf/2014/b20141215.pdf. The HTML edition of the Bulletin is a convenience copy. Any discrepancy between the PDF version and HTML version is resolved in favor of the PDF version. For questions regarding the content or ...
Related Chapter/Rule NO.: (1)
R590-198. Valuation of Life Insurance Policies Rule.