South Carolina Code of Regulations
Chapter 69 - DEPARTMENT OF INSURANCE
Section 69-57.1 - Recognition of the 2001 CSO Mortality Table for Use in Determining Minimum Reserve Liabilities and Nonforfeiture Benefits
Current through Register Vol. 48, 12, December 27, 2024
Section 1. Authority
Section 2. Purpose
Section 3. Definitions
Section 4. 2001 CSO Mortality Table
Section 5. Conditions
Section 6. Applicability of the 2001 CSO Mortality Table to South Carolina Insurance Regulation 69-57
Section 7. Gender-Blended Tables
Section 8. Separability
Section 9. Effective Date
This regulation is promulgated by the Director of Insurance pursuant to South Carolina Code Sections 38-9-180 and 38-63-510 et seq. as well as Regulation Regulation 69-57, Valuation of Life Insurance Policies.
The purpose of this regulation is to recognize, permit and prescribe the use of the 2001 Commissioners Standard Ordinary (CSO) Mortality Table in accordance with South Carolina Code Section 38-9-180 and Section 38-63-510 et seq. as well Regulation Regulation 69-57, Valuation of Life Insurance Policies.
If any provision of this regulation or its application to any person or circumstance is for any reason held to be invalid, the remainder of the regulation and the application of the provision to other persons or circumstances shall not be affected.
This regulation shall be effective January 1, 2005.
Statutory Authority: 1976 Code Sections 38-3-110, 38-9-180, 38-63-510 et seq., 1-23-110 et seq.