2020 New Mexico Statutes
Chapter 59A - Insurance Code
Article 8 - Assets and Liabilities
Section 59A-8-14 - Valuation of other securities.

Universal Citation: NM Stat § 59A-8-14 (2020)

A. Common stocks shall be valued at their market value, as determined by customary method, or, at the option of the company, they may be carried at cost if cost is less than market value. If no publicly traded market quotation is available, the value of the stocks shall be based on the pro rata share of the issuing company's net worth as shown by its audited financial statements or, in the case of an insurance company, the pro rata share of its statutory net worth.

B. Preferred stocks shall be valued in accordance with procedures promulgated periodically by the securities valuation office of the national association of insurance commissioners.

C. Stock of an insurer's subsidiary shall be valued only on the basis of value of the assets of the subsidiary that would constitute lawful investments of the insurer if acquired or held directly by the insurer.

History: 1978 Comp., § 59A-8-14, enacted by Laws 1993, ch. 320, § 25.


Repeals and reenactments. — Laws 1993, ch. 320, § 25 repealed former 59A-8-14 NMSA 1978, as enacted by Laws 1984, ch. 127, § 131, and enacted a new section, effective June 18, 1993.

Disclaimer: These codes may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.