Any company which adopts any standard of valuation producing greater aggregate reserves than those calculated according to the minimum standard provided in this chapter may, with the approval of the director, adopt any lower standard of valuation, but not lower than the minimum provided by this chapter. However, for the purposes of this section and §§ 58-26-78 and 58-26-79 , the holding of additional reserves previously determined by the appointed actuary to be necessary to render the opinion required by §§ 58-26-46 to 58-26-55 , inclusive, is not considered to be the adoption of a higher standard of valuation.
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