Statutory Accounting Basis definition
Statutory Accounting Basis means a basis of accounting or financial reporting which is prescribed or permitted by the state of domicile of the reporting entity and is in accordance with the NAIC Accounting Practices and Procedures Manual in effect for the period covered by the financial report or statement.
Statutory Accounting Basis means the accounting treatment prescribed or permitted by the Illinois Department of Insurance (the “Illinois Department”) and employed by the Company.
Statutory Accounting Basis means the accounting treatment prescribed or permitted by the Division of Insurance of the State of Colorado and employed by the Company.
Examples of Statutory Accounting Basis in a sentence
All accounting terms not specifically defined herein with respect to Affiliated Insurers or with respect to the business of insurance shall be construed on a Statutory Accounting Basis (unless otherwise herein specified).