LIC Act 26Chapter VI · Finance, Accounts and Audit
Section 26 · Actuarial valuations
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1[The Board] shall, 2[every year], cause an investigation to be made by
actuaries into the financial conditions of the 3[life insurance business of the Corporation, including a
valuation of the liabilities of the Corporation in respect thereto], and submit the report of the actuaries to the 4[Board].
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