20:06:59:01. Valuation manual--Operative date. The valuation of reserve liabilities for life insurance contracts, annuity and pure endowment contracts, accident and health contracts, and deposit-type contracts must be calculated in accordance with the standards in the Valuation Manual of the National Association of Insurance Commissioners, 2024 edition. The operative date for the valuation manual is January 1, 2024.
Source: 43 SDR 80, effective December 5, 2016; 45 SDR 10, effective August 2, 2018; 46 SDR 26, effective September 4, 2019; 46 SDR 147, effective July 2, 2020; 47 SDR 137, effective June 28, 2021; 49 SDR 9, effective August 9, 2022; 50 SDR 13, effective August 10, 2023; 50 SDR 157, effective July 1, 2024.
General Authority: SDCL 58-26-45.1.
Law Implemented: SDCL 58-26-44.1(11), 58-26-45.1.
Reference: Valuation Manual of the National Association of Insurance Commissioners, 2024 edition, National Association of Insurance Commissioners (NAIC). Copies may be obtained from the NAIC, 1100 Walnut Street, Ste. 1500, Kansas City, MO 64106-2197, (816) 783-8300; http://www.naic.org. Cost: $0.
