US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 6
                            ASSETS AND LIABILITIES
    41-605.  LIABILITIES, IN GENERAL. 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 incurred on or prior to
the date of statement, whether reported or unreported, together with the
expenses of adjustment or settlement thereof.
    (3)  With reference to life and disability insurance and annuity
contracts:
    (a)  The amount of reserves on life insurance policies and annuity
contracts in force, valued according to the tables of mortality, rates of
interest, and methods adopted pursuant to this code which are applicable
thereto.
    (b)  Reserves for disability benefits, for both active and disabled lives.
    (c)  Reserves for accidental death benefits.
    (d)  Any additional reserves which may be required by the director
consistent with applicable customary and general practice in insurance
accounting.
    (4)  With reference to insurance other than specified in subsection (3) of
this section, and other than title insurance, the amount of reserves equal to
the unearned portions of the gross premiums charged on policies in force,
computed in accordance with this chapter.
    (5)  Taxes, expenses and other obligations due or accrued at the date of
the statement.