1998 Minnesota Statutes

     60A.128 Use of asset valuation reserve. 

    In computing reserves required to be held by an insurer 
 under the provisions of section 60A.123, subdivisions 3, 4, and 
 5, the commissioner may allow an insurer to take credit for any 
 reserves held by the insurer attributable to the assets as an 
 "asset valuation reserve" pursuant to the accounting and 
 reserving requirements of the National Association of Insurance 
 Commissioners.  Any charges against surplus taken under section 
 60A.123, subdivision 3, 4, 5, 6, or 7, may be taken against the 
 asset valuation reserve to the extent the asset valuation 
 reserve is sufficient and the charge is permitted by the NAIC.  
 To the extent the asset valuation reserve is not sufficient, or 
 if the charge is not permitted by the NAIC, the insurer shall 
 take a charge against its surplus. 

    HIST: 1991 c 325 art 19 s 8