Section 10. Purpose

Latest version.

The purpose of this chapter (14VAC5-310) is to prescribe:

1. Requirements for statements of actuarial opinion that are to be submitted in accordance with § 38.2-1367 of the Code of Virginia, and for memoranda in support thereof;

2. Rules applicable to the appointment of an appointed actuary; and

3. Guidance as to the meaning of "adequacy of reserves."

Historical Notes

Derived from Regulation 45, Case No. INS920377, § 1, eff. December 15, 1992; amended, Volume 20, Issue 05, eff. December 31, 2003; Volume 31, Issue 09, eff. January 1, 2015.

Statutory Authority

§§ 12.1-13 and 38.2-223 of the Code of Virginia.

                    
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