A. Every society doing business in this Commonwealth shall annually, by March1, unless the Commission extends the time for cause shown, file with theCommission a true statement of its financial condition, transactions andaffairs for the preceding calendar year. The statement shall be in generalform and content as approved by the National Association of InsuranceCommissioners for fraternal benefit societies or other form required by theCommission and as supplemented by additional information required by theCommission.
B. As part of the required annual statement, each society shall, by March 1,file with the Commission a valuation of its certificates in force on December31 of the previous year, provided the Commission may, in its discretion forcause shown, extend the time of filing such valuation for not more than twocalendar months. Such valuation shall be done in accordance with thestandards specified in § 38.2-4125. Such valuation and underlying data shallbe certified by a qualified actuary or, at the expense of the society,verified by the actuary of the department of insurance of the state ofdomicile of the society.
(Code 1950, §§ 38-316, 38.1-624; 1952, c. 317, §§ 38.1-638.44, 38.1-638.45;1968, c. 654; 1975, c. 262; 1986, c. 562.)
A. Every society doing business in this Commonwealth shall annually, by March1, unless the Commission extends the time for cause shown, file with theCommission a true statement of its financial condition, transactions andaffairs for the preceding calendar year. The statement shall be in generalform and content as approved by the National Association of InsuranceCommissioners for fraternal benefit societies or other form required by theCommission and as supplemented by additional information required by theCommission.
B. As part of the required annual statement, each society shall, by March 1,file with the Commission a valuation of its certificates in force on December31 of the previous year, provided the Commission may, in its discretion forcause shown, extend the time of filing such valuation for not more than twocalendar months. Such valuation shall be done in accordance with thestandards specified in § 38.2-4125. Such valuation and underlying data shallbe certified by a qualified actuary or, at the expense of the society,verified by the actuary of the department of insurance of the state ofdomicile of the society.
(Code 1950, §§ 38-316, 38.1-624; 1952, c. 317, §§ 38.1-638.44, 38.1-638.45;1968, c. 654; 1975, c. 262; 1986, c. 562.)
A. Every society doing business in this Commonwealth shall annually, by March1, unless the Commission extends the time for cause shown, file with theCommission a true statement of its financial condition, transactions andaffairs for the preceding calendar year. The statement shall be in generalform and content as approved by the National Association of InsuranceCommissioners for fraternal benefit societies or other form required by theCommission and as supplemented by additional information required by theCommission.
B. As part of the required annual statement, each society shall, by March 1,file with the Commission a valuation of its certificates in force on December31 of the previous year, provided the Commission may, in its discretion forcause shown, extend the time of filing such valuation for not more than twocalendar months. Such valuation shall be done in accordance with thestandards specified in § 38.2-4125. Such valuation and underlying data shallbe certified by a qualified actuary or, at the expense of the society,verified by the actuary of the department of insurance of the state ofdomicile of the society.
(Code 1950, §§ 38-316, 38.1-624; 1952, c. 317, §§ 38.1-638.44, 38.1-638.45;1968, c. 654; 1975, c. 262; 1986, c. 562.)
