New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter VI - AUTHORIZED INVESTMENTS
Part 176 - Investments In "medium Grade" And "lower Grade" Obligations By Domestic Life Insurers
Section 176.3 - Definitions

Universal Citation: 11 NY Comp Codes Rules and Regs ยง 176.3

Current through Register Vol. 46, No. 12, March 20, 2024

For purposes of this Part:

(a) Medium grade obligations means obligations rated three by the Securities Valuation Office of the National Association of Insurance Commissioners;

(b) Lower grade obligations means obligations rated four, five or six by the Securities Valuation Office of the National Association of Insurance Commissioners;

(c) Admitted assets means the amount thereof as of the last day of the most recently concluded annual statement year, computed in the same manner as "admitted assets" in section 1405 of the Insurance Law.

(d) Aggregate amount of medium grade and lower grade obligations means the aggregate statutory statement value thereof.

(e) Institution means a corporation, a joint-stock company, an association, a trust, a business partnership, a business joint venture or similar entity.

Disclaimer: These regulations may not be the most recent version. New York 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.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.