§431:10D-409 Annual certifications. (a) The board of directors of each insurer shall appoint one or more illustration actuaries.
(b) The illustration actuary shall certify that the disciplined current scale used in illustrations is in conformity with the Actuarial Standard of Practice for Compliance with the National Association of Insurance Commissioners' Model Regulation on Life Insurance Illustrations promulgated by the Actuarial Standards Board, and that the illustrated scales used in insurer-authorized illustrations meet the requirements of this part.
(c) The illustration actuary shall:
(d) The illustration actuary shall file a certification with the board and with the commissioner:
(e) If an error in a previous certification is discovered, the illustration actuary shall immediately notify the board of directors of the insurer and the commissioner.
(f) If an illustration actuary is unable to certify the scale for any policy form illustration the insurer intends to use, the actuary shall immediately notify the board of directors of the insurer and the commissioner of the inability to certify.
(g) A responsible officer of the insurer, other than the illustration actuary, shall certify annually:
(h) The annual certifications shall be provided to the commissioner each year by a date determined by the insurer.
(i) If an insurer changes the illustration actuary responsible for all or a portion of the company's policy forms, the insurer shall notify the commissioner of that fact promptly and disclose the reason for the change. [L 2000, c 252, pt of §2; am L 2003, c 212, §90]