§ 1304. Valuation reserves. Every insurer authorized under this
chapter to transact the kinds of insurance specified in paragraph one,
two or three of subsection (a) of section one thousand one hundred
thirteen of this chapter shall, subject to specific provisions of this
chapter, maintain:

(a) reserves on all of its life insurance policies or certificates and
annuity contracts in force, computed according to the applicable tables
of mortality and rates of interest prescribed in this chapter;

(b) reserves for disability benefits, including reserves for disabled
lives whether reported or unreported, and for accidental death benefits;
and

(c) any additional reserves prescribed by the superintendent as
necessary on account of such insurer's policies, certificates and
contracts.