Pennsylvania § 7112 - Reserve valuation for policies and contracts issued on or after operative date of valuation manual.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 7112 — Reserve valuation for policies and contracts issued on or after operative date of valuation manual., with citation guidance and answers to common questions.
§ 7112. Reserve valuation for policies and contracts issued on or after operative date of valuation manual.
(a) Applicability.--This section shall apply to each policy or contract issued on or after the operative date of the valuation manual.
(b) Annual valuation.--The commissioner shall annually value, or cause to be valued, the reserve liabilities for all outstanding life insurance contracts, annuity and pure endowment contracts, accident and health contracts and deposit-type contracts of each company doing business in this Commonwealth. The commissioner may certify the amount of reserves.
(c) Other jurisdictions.--In lieu of the valuation of the reserves required of a foreign or alien company, the commissioner may accept a valuation made, or caused to be made, by the insurance supervisory official of any state or other jurisdiction when the valuation complies with the minimum standard provided in this chapter.
(d) Applicable standards.--The following provisions shall govern a policy or contract under this section:
(1) Section 7124(a), (b), (d) and (e) (relating to minimum standard for accident and health insurance contracts).
(2) Section 7125 (relating to valuation manual for policies issued on or after operative date of valuation manual).
(3) Section 7126 (relating to requirements of principle-based valuation).
Cross References. Section 7112 is referred to in sections 7124, 7125 of this title.
Source: official Pennsylvania text · Last verified 2026-08-27
Frequently Asked Questions About Pennsylvania § 7112
What does Pennsylvania Consolidated Statutes § 7112 cover?
Section 7112 ("Reserve valuation for policies and contracts issued on or after operative date of valuation manual.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 7112?
A common citation format is "Pennsylvania Consolidated Statutes § 7112" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 7112 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.