Code of Alabama - Title 27: Insurance - Chapter 37 - Assets

• Section 27-37-1 Assets - Generally
  In any determination of the financial condition of an insurer, there shall be allowed as assets only such assets as are owned by the insurer...
• Section 27-37-2 Assets - Exclusions
  In addition to assets impliedly excluded by the provisions of Section 27-37-1, the following expressly shall not be allowed as assets in any determination of...
• Section 27-37-3 Assets and liabilities as deductions
  Assets may be allowed as deductions from corresponding liabilities, and liabilities may be charged as deductions from assets and deductions from assets may be charged...
• Section 27-37-4 Disallowance of assets or credits for deception
  (a) The commissioner shall disallow as an asset or as a credit against liabilities any reinsurance found by him after a hearing thereon to have...
• Section 27-37-5 Valuation - Bonds and other evidences of debt
  (a) All bonds or other evidences of debt having a fixed term and rate of interest held by an insurer shall, if amply secured and...
• Section 27-37-6 Valuation - Other securities; preferred or guaranteed stocks or shares
  (a) Securities, other than those referred to in Section 27-37-5, held by an insurer shall be valued, in the discretion of the commissioner, at their...
• Section 27-37-7 Valuation - Real property and personal property acquired pursuant to chattel mortgages
  (a) Real property acquired pursuant to a mortgage loan or contract for sale, in the absence of a recent appraisal deemed by the commissioner to...
• Section 27-37-8 Valuation - Funeral supplies and equipment
  Funeral supply inventories owned by the insurer shall be valued at an amount not exceeding cost to the insurer or market value, whichever is lower....
• Section 27-37-9 Valuation - Purchase money mortgages
  Purchase money mortgages on real property shall be valued in an amount not exceeding the acquisition cost of the real property covered thereby or the...

Last modified: May 3, 2021