20-512. Valuation of other securities
140 words·~1 min read·
/az/title-20/20-512A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. Securities, other than those referred to in section 20-511, held by an insurer shall be valued, in the discretion of the director, at their market value, or at their appraised value, at prices determined by the director as representing their fair market value but shall not be valued in a manner that is inconsistent with the standards promulgated by the securities valuation office of the national association of insurance commissioners.
B. Preferred or guaranteed stocks or shares while paying full dividends may be carried at a fixed value in lieu of market value, at the discretion of the director and in accordance with such method of computation as the director may approve but shall not be valued in a manner that is inconsistent with the standards promulgated by the securities valuation office of the national association of insurance commissioners.