33-2-501. Assets allowed. In any determination of the financial condition of an insurer, there must be allowed as assets only 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 and including the true balance of any deposit in a solvent bank […]
33-2-502. Assets expressly not allowed. In addition to assets impliedly excluded by the provisions of 33-2-501, the following expressly may not be allowed as assets in any determination of the financial condition of an insurer: (1) goodwill, trade names, and other like intangible assets; (2) advances to officers, other than policy loans, whether secured or not, and advances […]
33-2-503. Treatment of assets. Assets may be allowed as deductions from corresponding liabilities, liabilities may be charged as deductions from assets, and deductions from assets may be charged as liabilities, in accordance with the form of annual statement applicable to the insurer as prescribed by the commissioner. History: En. Sec. 83, Ch. 286, L. 1959; R.C.M. 1947, […]
33-2-504 through 33-2-510 reserved.
33-2-511. Liabilities chargeable against assets. In any determination of the financial condition of an insurer, capital stock and liabilities to be charged against its assets shall include: (1) the amount of its capital stock outstanding, if any; (2) the amount, estimated consistent with the provisions of this code, necessary to pay all of its unpaid losses and claims […]
33-2-512. Unearned premium reserve for property, casualty, and surety. (1) As to insurance against loss or damage to property, except as provided in 33-2-513, and as to all general casualty insurance and surety insurance, every insurer shall maintain an unearned premium reserve on all policies in force. (2) The commissioner may require that such reserves shall be […]
33-2-513. Unearned premium reserve for marine and transportation insurance. As to marine and transportation insurance, the entire amount of premiums on trip risks not terminated shall be deemed unearned and the commissioner may require the insurer to carry a reserve equal to 100% of premiums on trip risks written during the month ended as of the […]
33-2-514. Reserve for disability insurance. (1) For all disability insurance policies, the insurer shall maintain an active life reserve that places a sound value on its liabilities under the policies and that may not be less than the pro rata gross unearned premiums for the policies. (2) The commissioner may promulgate rules to define additional standards for […]
33-2-515. Repealed. Sec. 44, Ch. 531, L. 1997. History: En. Sec. 89, Ch. 286, L. 1959; R.C.M. 1947, 40-3008.
33-2-516. Inadequate reserves — increase required. If loss experience shows that an insurer’s loss reserves, however computed or estimated, are inadequate, the commissioner shall require the insurer to maintain loss reserves in such increased amount as is needed to make them adequate. History: En. Sec. 90, Ch. 286, L. 1959; R.C.M. 1947, 40-3009.
33-2-517. Title insurance reserves. (1) In addition to an adequate reserve as to outstanding losses as required under 33-2-511, a title insurer shall maintain a guaranty fund or unearned premium reserve of not less than an amount computed as follows: (a) Ten percent of the total amount of the risk premiums written in the calendar year for […]
33-2-518. Loss and loss expense reserves for property and casualty insurance. (1) (a) In determining the financial condition of a property and casualty insurer for the purpose of applying the provisions of this chapter and in any financial statement or report of an insurer, loss reserves and loss expense reserves at least equal to the amounts […]
33-2-519 and 3-2-520 reserved.
33-2-521. Renumbered 33-2-407. Sec. 40, Ch. 370, L. 2015.
33-2-522. Renumbered 33-2-408. Sec. 40, Ch. 370, L. 2015.
33-2-523. Renumbered 33-2-409. Sec. 40, Ch. 370, L. 2015.
33-2-524. Renumbered 33-2-410. Sec. 40, Ch. 370, L. 2015.
33-2-525. Renumbered 33-2-411. Sec. 40, Ch. 370, L. 2015.
33-2-526. Renumbered 33-2-412. Sec. 40, Ch. 370, L. 2015.
33-2-527. Renumbered 33-2-413. Sec. 40, Ch. 370, L. 2015.
