§ 27-11.2-2 - Valuation of other securities. - Rhode Island Statutes

SECTION 27-11.2-2

   § 27-11.2-2  Valuation of other securities.– (a) Securities, other than those referred to in § 27-11.2-1, held by aninsurer shall be valued, in the discretion of the department, at their marketvalue, or at their appraised value, or at prices determined by it asrepresenting their fair market value.

   (b) Preferred or guaranteed stocks or shares while payingfull dividends may be carried at a fixed value in lieu of market value, at thediscretion of the department and in accordance with any method of valuation asit may approve.

   (c) Stock of a subsidiary corporation of an insurer shall notbe valued at an amount in excess of its net value as based upon those assetsonly of the subsidiary which would be eligible under any provision of thegeneral laws for investment of the funds of the insurer directly.

   (d) No valuations under this section shall be inconsistentwith any applicable valuation or method then currently formulated or approvedby the National Association of Insurance Commissioners or its successororganization.