Sec. 14. (a) Before the operative date of the valuation manual specified in section 34 of this chapter, as used in this chapter, "qualified actuary" means an individual who is qualified to sign the applicable statement of actuarial opinion in accordance with the American Academy of Actuaries qualification standards.
(b) On and after the operative date of the valuation manual specified in section 34 of this chapter, as used in this chapter, "qualified actuary" means an individual who:
(1) is qualified to sign the applicable statement of actuarial opinion in accordance with the American Academy of Actuaries qualification standards; and
(2) meets the requirements specified in the valuation manual.