PARRIS N. GLENDENING, Governor

Ch. 36

(12)    ALL ASSETS, WHETHER OR NOT CONSISTENT WITH THE PROVISIONS
OF THIS SECTION, THAT AN INSURER MAY LIST IN THE ANNUAL STATEMENT
REQUIRED UNDER THIS ARTICLE; AND

(13)    AT VALUES DETERMINED BY THE COMMISSIONER, OTHER ASSETS:

(I)      THAT ARE NOT INCONSISTENT WITH THIS TITLE; AND

(II)     THAT THE COMMISSIONER CONSIDERS AVAILABLE FOR THE
PAYMENT OF LOSSES AND CLAIMS.

(B) ASSETS RELATED TO INVESTMENTS, SECURITIES, PROPERTIES, OR LOANS.

IN DETERMINING THE FINANCIAL CONDITION OF AN INSURER, THE
FOLLOWING ITEMS RELATED TO INVESTMENTS, SECURITIES, PROPERTIES, OR
LOANS THAT THE INSURER OWNS SHALL BE ALLOWED AS ADMITTED ASSETS:

(1)      INTEREST THAT IS DUE OR ACCRUED ON A BOND OR EVIDENCE OF
INDEBTEDNESS THAT IS:

(I)      NOT IN DEFAULT; AND

(II)     NOT VALUED ON A BASIS THAT INCLUDES ACCRUED
INTEREST;

(2)      DECLARED AND UNPAID DIVIDENDS ON SHARES OF STOCK, UNLESS
THE AMOUNT OF THOSE DIVIDENDS HAS OTHERWISE BEEN ALLOWED AS AN ASSET;

(3)      INTEREST THAT IS DUE OR ACCRUED ON A COLLATERAL LOAN AND
THAT DOES NOT EXCEED 1 YEAR'S INTEREST ON THE LOAN;

(4)      INTEREST THAT IS DUE OR ACCRUED ON DEPOSITS IN SOLVENT
BANKS, SOLVENT TRUST COMPANIES, OR SAVINGS AND LOAN ASSOCIATIONS
INSURED BY AN INSTRUMENTALITY OF THE UNITED STATES OR OF CANADA;

(5)      IF THE COMMISSIONER CONSIDERS THAT THE INTEREST IS A
COLLECTIBLE ASSET, INTEREST THAT IS DUE OR ACCRUED ON OTHER ASSETS;

(6)      IF THE INTEREST HAS NOT ACCRUED FOR MORE THAN 18 MONTHS,
INTEREST THAT IS DUE OR ACCRUED ON A MORTGAGE LOAN, IN AN AMOUNT NOT
MORE THAN ANY AMOUNT BY WHICH THE VALUE OF THE PROPERTY, REDUCED BY
THE AMOUNT OF DELINQUENT TAXES, EXCEEDS THE UNPAID PRINCIPAL;

(7)      RENT THAT IS DUE OR ACCRUED ON REAL PROPERTY IF:

(I)      THE RENT IS NOT PAST DUE FOR MORE THAN 3 MONTHS; OR

(II)     THE PAYMENT IS ADEQUATELY SECURED BY PROPERTY HELD
IN THE NAME OF THE TENANT AND CONVEYED TO THE INSURER AS COLLATERAL;
AND

(8)      THE UNACCRUED PART OF TAXES ON REAL PROPERTY PAID
BEFORE THE DUE DATE.

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