life insurance reserves

(3) Assessment companies In the case of an assessment life insurance company or association, the term “life insurance reserves” includes— (A) sums actually deposited by such company or association with State officers pursuant to law as guaranty or reserve funds, and (B) any funds maintained, under the charter or articles of incorporation or association (or bylaws approved by a State insurance commissioner) of such company or association, exclusively for the payment of claims arising under certificates of membership or policies issued on the assessment plan and not subject to any other use.

Source

26 USC § 816(b)(3)

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Scoping language

None identified, default scope is assumed to be the parent (subpart E) of this section.

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