6.6.6503    SCOPE

(1) These rules shall apply to all life insurance companies and fraternal benefit societies doing business in this state and to all life insurance companies and fraternal benefit societies which are authorized to reinsure life insurance, annuities or disability insurance business in this state.

(2) This rule shall be applied in a manner that allows the appointed actuary to utilize his or her professional judgment in performing the asset analysis and developing the actuarial opinion and supporting memoranda, consistent with relevant actuarial standards of practice. However, the commissioner shall have the authority to specify specific methods of actuarial analysis and actuarial assumptions when, in the commissioner's judgment, these specifications are necessary for an acceptable opinion to be rendered relative to the adequacy of reserves and related items.

(3) These rules shall be applicable to all annual statements filed with the office of the commissioner after the effective date of these rules. A statement of opinion on the adequacy of the reserves and related actuarial items based on an asset adequacy analysis in accordance with ARM 6.6.6508, and a memorandum in support thereof in accordance with ARM 6.6.6509, shall be required each year.


History: 33-1-313, 33-2-407, MCA; IMP, 33-2-407, 33-2-408, 33-2-409, 33-2-410, 33-2-411, 33-2-412, 33-2-413, 33-2-414, 33-2-415, 33-2-416, 33-2-417, 33-7-118, 33-7-411, MCA; NEW, 1996 MAR p. 1371, Eff. 5/24/96; AMD, 2008 MAR p. 2622, Eff. 12/25/08; AMD, 2011 MAR p. 2623, Eff. 12/9/11; AMD, 2017 MAR p. 1888, Eff. 10/14/17.