Arizona Laws 20-512. Valuation of other securities
A. Securities, other than those referred to in section 20-511, held by an insurer shall be valued, in the discretion of the director, at their market value, or at their appraised value, at prices determined by the director as representing their fair market value but shall not be valued in a manner that is inconsistent with the standards promulgated by the securities valuation office of the national association of insurance commissioners.
Terms Used In Arizona Laws 20-512
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
B. Preferred or guaranteed stocks or shares while paying full dividends may be carried at a fixed value in lieu of market value, at the discretion of the director and in accordance with such method of computation as the director may approve but shall not be valued in a manner that is inconsistent with the standards promulgated by the securities valuation office of the national association of insurance commissioners.