§431:5-204 Determining financial condition of reciprocal insurers. In determining the financial condition of a reciprocal insurer, the commissioner shall apply the following rules:
(1) The commissioner shall charge as liabilities the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis.
(2) The surplus deposits of subscribers shall be allowed as assets, except that any premium deposit delinquent for ninety days shall first be charged against the surplus deposits.
(3) The surplus deposits of subscribers shall not be charged as a liability.
(4) All premium deposits delinquent less than ninety days shall be allowed as assets.
(5) An assessment levied upon subscribers and not collected, shall not be allowed as an asset.
(6) The contingent liability of subscribers shall not be allowed as an asset.
(7) The computation of reserves shall be based upon premium deposits other than membership fees, and without any deduction for the compensation of the attorney. [L 1987, c 347, pt of §2]
Section: Previous 431-4f-108 431-5-101 431-5-102 431-5-103 431-5-201 431-5-202 431-5-203 431-5-204 431-5-301 431-5-302 431-5-303 431-5-304 431-5-305 431-5-306 431-5-307 NextLast modified: October 27, 2016