reserves required by law
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 299 U.S. 88 - Helvering v. Illinois Life Insurance · 1936Most cited · 84 citing opinions
The phrase 'required by law' includes only reserves that directly pertain to life insurance. Other reserves, even though required by state statutes regulatory of the business authorized to be carried on by life insurance companies, are not included.