2006 New York Code - Assets Not Admitted.

 
    §  1302.  Assets  not admitted. (a) In addition to assets not admitted
  pursuant to section one thousand three hundred one of this article,  the
  following  shall  not  be  allowed  as  admitted assets of a domestic or
  foreign insurer or the United States branch of an alien insurer  in  any
  determination of its financial condition:
    (1)  Goodwill,  trade  names,  agency plants and other like intangible
  assets.
    (2) Prepaid or deferred charges for expenses  except  as  provided  in
  paragraphs nine and twenty-one of subsection (a) of section one thousand
  three hundred one of this article, and commissions paid by the insurer.
    (3)  Advances  to  officers  (except policy loans), whether secured or
  not, and advances to employees, agents and  other  persons  on  personal
  security only.
    (4)  Shares  of  such  insurer,  owned by it, or any equity therein or
  loans secured thereby, or any  proportionate  interest  in  such  shares
  through  the  ownership  by such insurer of an interest in another firm,
  corporation or business unit.
    (5) Tangible personal property, fixtures  and  printed  matter  except
  such  as  an  insurer is permitted to hold pursuant to paragraph five of
  subsection (a) of  section  one  thousand  four  hundred  four  of  this
  chapter.
    (6)  Items  of  bank  credits  representing  checks,  drafts  or notes
  returned unpaid after the date of statement.
    (7) The  amount,  if  any,  by  which  the  aggregate  book  value  of
  investments  as carried in the ledger assets of such insurer exceeds the
  aggregate value thereof as determined in accordance with the  provisions
  of this chapter.
    (b)  All non-admitted assets and all other assets of doubtful value or
  character included as ledger or non-ledger assets in any statement by an
  insurer to the superintendent, or in any examiner's report to him, shall
  also be reported, to the extent of the value disallowed,  as  deductions
  from  the  gross  assets of such insurer except where the superintendent
  permits a reserve to be carried among the liabilities of such insurer in
  lieu of any such deduction.