Adoption of change to valuation manual

The director may approve a change to the valuation manual pursuant to rules promulgated pursuant to chapter 1-26 when the change to the valuation manual is adopted by the NAIC by an affirmative vote representing: (1) At least three-fourths of the members of the NAIC voting, but not less than a majority of the total membership; and (2) Members of the NAIC representing jurisdictions totaling greater than seventy-five percent of the direct premiums written as reported in the following annual statements most recently available prior to the vote in subdivision (1) above: life, accident, and health annual statements, health annual statements, or fraternal annual statements. Source: SL 2015, ch 254 , § 27.