1844 ARTICLE 48A.

of the gross premius charged for covering said policies or risks, computed
on each respective policy or risk from the date of the issuance of the policy,
hond or other contract of insurance; or, in the discretion of the commis-
sioner, at the rate of fifty per centum of the current annual premiums on
each outstanding bond, policy or contract in force and written for one
year or less, and on policies and bonds in force and written for more than
one year at the rate of fifty per centum of the current year's premiums,
plus the whole of the premiums for subsequent years.

1922, ch. 492, sec. 106.

109. Claim Reserves. All companies authorized to do any of the above
classes of business in this state, shall, in addition to the unearned premium
or reinsurance reserve required by section 108, also at all times keep and
maintain adequate reserve sufficient to pay the claims which may have been
filed against such companies, computed as hereinafter provided.

1922, ch. 492, sec. 107.

110. Liability and Compensation Claim Reserves. The reserve for
outstanding losses under insurance against loss or damage resulting from
accident to or injuries, suffered by an employee or other person and for
which the insured is liable, and under insurance against loss from liability
on account of the death of or injury to an employee not caused by the
negligence of the employer, shall be determined as follows:

(1) For all liability suits being defended under policies written more
than (a) Ten Tears prior to the date as of which the statement is made,
one thousand five hundred dollars for each suit, (b) Five and less than
Ten Years prior to the date as of which the statement is made, one thousand
dollars for each suit, (c) Three and less than Five Years prior to the date
as of which the statement is made, eight hundred and fifty dollars for each
suit; (2) For all liability policies written during the three years immedi-
ately preceding the date as of which the statement is made, such reserve
shall be sixty per centum of the earned liability premiums of each of such
three years, less all loss and loss expense payments made under liability
policies written in the corresponding years; but in any event, such reserve
shall, for the first of such three years, be not less than seven hundred and
fifty dollars for each outstanding liability suit on said year's policies;
(3) For all compensation claims under policies written more than three
years prior to the date as of which the statement is made, the present values
at four per centum interest of the determined and estimated future pay-
ments ; (4) For all compensation claims under policies written in the three
years immediately preceding the date as of which the statement is made,
such reserve shall be sixty-five per centum of the earned compensation
premiums of each of such three years, less all loss and loss expense pay-
ments made in connection with such claims under policies written in the
corresponding years; but in any event, in the case of the first year of any
such three year period such reserve shall not be less than the present value
at four per centum interest of the determined and the estimated unpaid
compensation claims under policies written during such year.