California Code of Regulations
Title 10 - Investment
Chapter 5 - Insurance Commissioner
Subchapter 3 - Insurers
Article 9.5 - Workers' Compensation Insurance Deposits
Section 2509.11 - Valuation of Securities

Universal Citation: 10 CA Code of Regs 2509.11

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

Preferred and common stock are to be valued at market. All other securities, other than promissory notes taken for premium, for all purposes, shall be valued at the lower of par or market value. Promissory notes taken for premium shall be valued at the lowest of the following:

(a) the amount of written premium recorded by the insurer as of the valuation date less cash collected;

(b) the principal owed on the note; or

(c) the face amount of the supporting letter of credit.

1. Change without regulatory effect amending NOTE filed 4-28-2014 pursuant to section 100, title 1, California Code of Regulations (Register 2014, No. 18).

Note: Authority cited: Section 11691, Insurance Code. Reference: Section 11691, Insurance Code.

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