Wyoming § 26-6-301 Valuation of bonds and other debt securities

Wyoming Statutes

§ 26-6-301 — Valuation of bonds and other debt securities

Wyoming § 26-6-301

Title 26Insurance Code

Ch. 6ASSETS AND LIABILITIES

This text of Wyoming § 26-6-301 (Valuation of bonds and other debt securities) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wyo. Stat. Ann. § 26-6-301 (2026).

Text

(a)The commissioner may, by rule or regulation, require that any bond or other evidence of debt held by an insurer be valued in accordance with the most recent published valuation standards of the National Association of Insurance Commissioners. Any bonds or other evidences of debt as to which the National Association of Insurance Commissioners has not published valuation standards in its valuations of securities manual, if amply secured and not in default as to principal or interest, shall be valued as follows:

(i)If purchased at par, at the par value;

(ii)If purchased above or below par, on the basis of the purchase price adjusted so as to bring the value to par at maturity and so as to yield in the meantime the effective rate of interest at which the purchase was made, or instead of

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(a) The commissioner may, by rule or regulation, require
that any bond or other evidence of debt held by an insurer be
valued in accordance with the most recent published valuation
standards of the National Association of Insurance
Commissioners. Any bonds or other evidences of debt as to which
the National Association of Insurance Commissioners has not
published valuation standards in its valuations of securities
manual, if amply secured and not in default as to principal or
interest, shall be valued as follows:
(i) If purchased at par, at the par value;
(ii) If purchased above or below par, on the basis of
the purchase price adjusted so as to bring the value to par at
maturity and so as to yield in the meantime the effective rate
of interest at which the purchase was made, or instead of this
method, according to an accepted method of valuation the
commissioner approves;
(iii) Purchase price shall in no case be taken at a
higher figure than the actual fair value at the time of
acquisition regardless of how acquired, plus actual brokerage,
transfer, postage or express charges paid in the acquisition of
the securities;
(iv) Unless otherwise provided by valuation the
commissioner establishes or approves, no such security shall be
carried at above the call price for the entire issue during any
period within which the security may be called.
(b) The commissioner has full discretion in determining
the method of calculating values according to the rules set
forth in this section.