1014                           LAWS OF MARYLAND                      [CH. 553

if such interest is in the judgment of the Commissioner a collectible
asset.

(v) Interest due or accrued on a mortgage loan, in an amount not
exceeding in any event the amount, if any, of the excess of the value
of the property less delinquent taxes thereon over the unpaid princi-
pal; but in no event shall interest accrued for a period in excess of
eighteen (18) months be allowed as an asset.

(vi) Rent due or accrued on real property if such rent is not in
arrears for more than three months, and rent more than three months
in arrears if the payment of such rent be adequately secured by prop-
erty held in the name of the tenant and conveyed to the insurer as
collateral.

(vii) The unaccrued portion of taxes paid prior to the due date on
real property.

(3)   Premium notes, policy loans, and other policy assets and liens
on policies and certificates of life insurance and annuity contracts and
accrued interest thereon, in an amount not exceeding the legal reserve
and other policy liabilities carried on each individual policy.

(4)   The net amount of uncollected and deferred premiums on life
insurance and annuity considerations in the case of a life insurer.

(5)   Premiums in the course of collection, other than for life insur-
ance, not more than three (3) months past due, less commissions
payable thereon. The foregoing limitation shall not apply to premiums
payable directly or indirectly by the United States government or by
any of its instrumentalities.

(6)   Installment premiums other than life insurance premiums to
the extent of the unearned premium reserve carried on the policy to
which premiums apply.

(7)   Notes and like written obligations not past due, taken for
premiums other than life insurance premiums, on policies permitted
to be issued on such basis, to the extent of the unearned premium
reserves carried thereon.

(8)   The full amount of reinsurance recoverable by a ceding in-
surer from a solvent reinsurer and which reinsurance is allowable
under section 74.

(9)   Amounts receivable by an assuming insurer representing
funds withheld by a solvent ceding insurer under a reinsurance
treaty.

(10)   Deposits or equities recoverable from underwriting associa-
tions, syndicates and reinsurance funds, or from any suspended bank-
ing institution, to the extent deemed by the Commissioner available
for the payment of losses and claims and at values to be determined
by him.

(11)   Electronic and mechanical machines constituting a data pro-
cessing and accounting system if the cost of such system is at least
twenty-five thousand dollars ($25,000), which cost shall be amortized
in full over a period not to exceed ten (10) calendar years.

(12)   All assets, whether or not consistent with the provisions of
this section, as may be allowed pursuant to the annual statement