In any determination of the financial condition of an insurer, the department shall allow only those assets that are owned by the insurer and that consist of:
1. Cash in the possession of the insurer, or in transit under its control, including the true balance of any deposit in a solvent bank or trust company.
2. Investments, securities, properties and loans acquired or held in accordance with this title, and the following related items:
(a)Interest due or accrued on any bond or evidence of indebtedness that is not in default and that is not valued on a basis including accrued interest.
(b)Declared and unpaid dividends on stock and shares, unless the amount has otherwise been allowed as an asset.
(c)Interest due or accrued on a collateral loan in an amount that is not more than one
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In any determination of the financial condition of an insurer, the department shall allow only those assets that are owned by the insurer and that consist of:
1. Cash in the possession of the insurer, or in transit under its control, including the true balance of any deposit in a solvent bank or trust company.
2. Investments, securities, properties and loans acquired or held in accordance with this title, and the following related items:
(a) Interest due or accrued on any bond or evidence of indebtedness that is not in default and that is not valued on a basis including accrued interest.
(b) Declared and unpaid dividends on stock and shares, unless the amount has otherwise been allowed as an asset.
(c) Interest due or accrued on a collateral loan in an amount that is not more than one year's interest.
(d) Interest due or accrued on deposits in solvent banks and trust companies, and interest due or accrued on other assets, if the director determines that the interest is a collectible asset.
(e) Interest due or accrued on a mortgage loan, in an amount that is not more than the amount, if any, of the excess of the value of the property less delinquent taxes on the property over the unpaid principal, but in no event shall interest accrued for a period of more than one hundred eighty days be allowed as an asset.
(f) Rent due or accrued on real property if the rent is not in arrears for more than three months, and rent more than three months in arrears if the payment of the rent is adequately secured by property held in the name of the tenant and conveyed to the insurer as collateral.
(g) The unaccrued portion of taxes paid before the due date on real property.
3. Premium notes, policy loans and other policy assets and liens on policies and certificates of life insurance and annuity contracts and accrued interest, in an amount that is not more than the legal reserve and other policy liabilities carried on each individual policy.
4. For a life insurer, the net amount of uncollected and deferred premiums and annuity considerations.
5. Premiums in the course of collection not more than three months past due, less commissions payable on the premiums. Premiums payable directly or indirectly by the United States or by any of its instrumentalities are not subject to the three months past due limitation.
6. Installment premiums allowed pursuant to the accounting practices and procedures manual adopted by the national association of insurance commissioners.
7. Notes and like written obligations not past due, taken for premiums other than life insurance premiums on policies permitted to be issued on such basis, to the extent of the unearned premium reserves carried on the policies.
8. The full amount of reinsurance that is recoverable by a ceding insurer from a solvent reinsurer and that is authorized under section 20-261.
9. Amounts receivable by an assuming insurer representing funds withheld by a solvent ceding insurer under a reinsurance treaty.
10. Deposits or equities recoverable from underwriting associations, syndicates and reinsurance funds, or from any suspended banking institution, to the extent the director deems those funds are available for the payment of losses and claims and at values determined by the director.
11. Deferred tax assets as allowed pursuant to the accounting practices and procedures manual adopted by the national association of insurance commissioners.
12. Electronic data processing equipment, including operating system software, net of accumulated depreciation, that is necessary for use in the business of the insurer. The insurer shall depreciate the equipment over a period of not more than three years. The admitted value of the equipment shall not be more than the amount allowed pursuant to the accounting practices and procedures manual adopted by the national association of insurance commissioners.
13. Goodwill as allowed pursuant to the accounting practices and procedures manual adopted by the national association of insurance commissioners.
14. Other assets that are not inconsistent with this section and that the director deems are available for the payment of losses and claims, at values determined by the director.