Total Reserves [Internal revenue] Law and Legal Definition

According to 26 USCS § 816 [Title 26. Internal Revenue Code; Subtitle A. Income Taxes; Chapter 1. Normal Taxes and Surtaxes; Subchapter L. Insurance Companies; Part I. Life Insurance Companies; Subpart E. Definitions and Special Rules], total reserves means--

“(1) life insurance reserves,

(2) unearned premiums, and unpaid losses (whether or not ascertained), not included in life insurance reserves, and

(3) all other insurance reserves required by law.”