Or. Admin. R. 410-141-5090 - ASSET VALUATION AND PERMITTED INVESTMENTS: Calculation of Value; Books and Records
Current through Register Vol. 60, No. 12, December 1, 2021
(1)
Securities held by a CCO, other than bonds or other evidences of debt to which
OAR 410-141-5095, applies, must be valued in the discretion of the Authority at
their market value, at their appraised value or at prices determined by the
Authority as representing their fair market value.
(2) Preferred or guaranteed stocks or shares
while paying full dividends may be carried at a fixed value instead of market
value, at the discretion of the Authority and in accordance with any method of
valuation approved by the Authority.
(3) Stock of a subsidiary corporation of a
CCO may not be valued at an amount in excess of the net value thereof as based
upon the assets only of the subsidiary that would be eligible under OAR
410-141-5095 to 410-141-5140 for investment of the funds of the CCO
directly.
(4) The Authority may
determine the method of calculating values as provided in this section, but the
method or valuation may not be inconsistent with any applicable method or
valuation used by CCOs in general or any such method of valuation then
currently formulated or approved by the NAIC or its successor
organization.
(5) Assets may be
allowed as deductions from corresponding liabilities, liabilities may be
charged as deductions from assets, deductions from assets may be charged as
liabilities, and deductions from liabilities may be allowed as assets, in
accordance with the form of annual statement prescribed by the Authority, or
otherwise in the discretion of the Authority.
(6) A CCO shall keep its books, records,
accounts and transaction source data in such manner that the Authority may
readily verify its statements of financial condition and ascertain whether the
CCO is unimpaired, has given proper treatment to Members and has complied with
Applicable Law.
Notes
Statutory/Other Authority: ORS 413.042, 414.615, 414.625, 414.635 & 414.651
Statutes/Other Implemented: ORS 414.610 - 414.685
The following state regulations pages link to this page.
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.