{"data":{"id":"us-dc/d.c.-code-31-5322","jurisdiction":"us-dc","citation":"D.C. Code § 31-5322","heading":"Valuation standards for certificates.","body":"(a)\nStandards of valuation for certificates issued prior to one year after April 29, 1998 shall be those provided by the laws applicable immediately prior to April 29, 1998.\n\n(b)\n(1)\nThe minimum standards of valuation for certificates issued on or after one year from April 29, 1998 shall be based on the following tables:\n(A)\nFor certificates of life insurance, the Commissioner’s 1941 Standard Ordinary Mortality Table, the Commissioner’s 1941 Standard Industrial Table, the Commissioner’s 1958 Standard Ordinary Mortality Table, the Commissioner’s 1980 Standard Mortality Table, or any more recent table made applicable to life insurers in the District; and\n(B)\nFor annuity and pure endowment certificates, for total and permanent disability benefits, for accidental death benefits, and for noncancelable accident and health benefits, such tables as are authorized for use by life insurers in the District.\n(2)\nThe valuation methods and standards (including interest assumptions) set forth in paragraph (1) of this subsection shall be in accordance with the laws of the District applicable to life insurers issuing policies containing like benefits.\n\n(c)\nThe Commissioner may, in his or her discretion, accept other standards for valuation if the Commissioner finds that the reserves produced thereby will not be less in the aggregate than reserves computed in accordance with the minimum valuation standard herein prescribed. The Commissioner may, in his or her discretion, vary the standards of mortality applicable to all benefit contracts on substandard lives or other extra hazardous lives by any society authorized to do business in the District.\n\n(d)\nAny society, with the consent of the Commissioner of the state of domicile of the society and under such conditions, if any, which the Commissioner may impose, may establish and maintain reserves on its certificates in excess of the reserves required thereunder, but the contractual rights of any benefit member shall not be affected thereby.","path":["Title 31. Insurance and Securities.","Chapter 53. Fraternal Benefit Societies."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/31-5322","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"740fd0edea6135e4f3745047c8d6c486b76b01eae500cede184a4dafaa4e100f","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-31-5321","next":"us-dc/d.c.-code-31-5323"},"notice":"GroundRules: Original legal text. Not legal advice."}