Rules & Regulations of the State of Tennessee
Title 0780 - Commerce and Insurance
Subtitle 0780-01 - Insurance Division
Chapter 0780-01-32 - Relating to Exchange- Traded Call Options
Section 0780-01-32-.08 - VALUATION
Universal Citation: TN Comp Rules and Regs 0780-01-32-.08
Current through September 24, 2024
(1) Provided Section 7A.1 hereof has been complied with, stock with respect to which an exchange-traded call option has been sold shall be valued, so long as the obligation under the options exists, at the lesser of (a) the exercise price of the option or (b) the current market price of the stock.
(2) Each unexercised and unexpired exchange-traded call option held by a domestic insurance company shall be valued at the current market price therefor on an exchange.
Authority: T.C.A. §§ 56-1-701, 56-3-302, 56-3-303, 56-3-304, 56-19-114, 56-21-104, 56-23-110, and 56-23-111.
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