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).

  • Provide updated information to that submitted with the Feasibility Study PART I, if applicable, to include the most recently audited financial statements of the DSC applicant, completed on either a Statutory Accounting Basis (SAP), or Generally Accepted Accounting Principles (GAAP) basis, or both SAP and GAAP if available, with accompanying notes and management letters.

  • Excluded from the following table are receipts from PILOTs and receipts on account of Chapter 121A corporations.Tax Collections In Relation To Property Tax Levies Fiscal 2011-2015 (Statutory Accounting Basis)($ in millions) (1) Includes additional assessments billed in June of each fiscal year, as well as subsequently deducted residential exemptions.

  • Table D – Senior Executive’s Remuneration – Statutory Accounting Basis Senior Executives N.

  • Excluded from the following table are receipts from PILOTs and receipts on account of Chapter 121A corporations.Tax Collections In Relation To Property Tax Levies Fiscal 2010-2014 (Statutory Accounting Basis)($ in millions) (1) Includes additional assessments billed in June of each fiscal year, as well as subsequently deducted residential exemptions.

  • Assets, liabilities and surplus are presented on a Statutory Accounting Basis as promulgated by the NAIC and prescribed or permitted by the Company's domiciliary state.

Related to Statutory Accounting Basis

  • Agreement Accounting Principles means generally accepted accounting principles as in effect from time to time, applied in a manner consistent with that used in preparing the financial statements referred to in Section 5.4.

  • Consolidated Account means an account which is a consolidation of any separate accounts of a person who is liable for payment to the Municipality;

  • Applicable Accounting Principles means, with respect to the Borrower, those accounting principles required by the ICA and prescribed by the SEC for the Borrower and, to the extent not so required or prescribed, GAAP.

  • Accounting Statement means for each financial year, the following statements, namely-

  • Audited Accounts means the audited accounts of the Company and of each of the Subsidiaries and the audited consolidated group accounts of the Group for the financial period ended on the Balance Sheet Date;

  • Agreed Accounting Principles means GAAP; provided, however, that, with respect to any matter as to which there is more than one generally accepted accounting principle, Agreed Accounting Principles means the generally accepted accounting principles consistently applied in the preparation of the Latest Audited Company Balance Sheet; provided, further, that, for purposes of the Agreed Accounting Principles, no known adjustments for items or matters, regardless of the amount thereof, shall be deemed to be immaterial.

  • Management Accounts means the unaudited balance sheet of the Seller as at the Management Accounts Date and the unaudited statements of profit and loss of the Seller for the period commencing from 1st January 2007 and ended on the Management Accounts Date prepared in accordance with US GAAP and in a manner consistent with past practice, copies of which are annexed hereto as Exhibit B.

  • Consolidated Net Earnings means, for any period, the net income (loss) of Borrower for such period, as determined on a Consolidated basis and in accordance with GAAP.

  • Accounting Year means the financial year commencing from the first day of April of any calendar year and ending on the thirty-first day of March of the next calendar year;

  • Accounting Date means the thirtieth day of June in each year and any interim date on which the financial statements of the Trust are drawn up. Provided that the Management Company may, with the written consent of the Trustee and after obtaining approval from the Commission and the Commissioner of Income Tax may change such date to any other date and such change shall be intimated to the Commission.

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Applicable Accounting Standards means Generally Accepted Accounting Principles in the United States, International Financial Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under United States federal securities laws from time to time.

  • Earnings from Operations for any period means net earnings excluding gains and losses on sales of investments, extraordinary items and property valuation losses, as reflected in the financial statements of the Company and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.

  • UK generally accepted accounting principles and practices means the principles and practices prevailing from time to time in the United Kingdom which are generally regarded as permissible or legitimate by the accountancy profession irrespective of the degree of use.

  • Energy Accounts means the regional energy accounts/state energy accounts as specified in the Grid Code issued by the appropriate agency for each Month (as per their prescribed methodology), including the revisions and amendments thereof;

  • Adjusted Net Earnings from Operations means, with respect to any fiscal period of Foamex, the net income of Foamex and its Subsidiaries after provision for income taxes for such fiscal period, as determined in accordance with GAAP on a consolidated basis (excluding the Joint Ventures and the China Joint Venture) and reported on the Financial Statements for such period, excluding any and all of the following included in such net income: (a) gain or loss arising from the sale of any capital assets; (b) gain (or loss) arising from any write-up (or write-down) in the book value of any asset; (c) earnings of any Person, substantially all the assets of which have been acquired by Foamex or any of its Subsidiaries in any manner, to the extent realized by such other Person prior to the date of acquisition; (d) earnings of any Person (other than Foamex Canada and the Mexican Subsidiaries and their respective Subsidiaries) in which Foamex or any of its Subsidiaries has an ownership interest unless (and only to the extent) such earnings shall actually have been received by Foamex or any of its Domestic Subsidiaries in the form of cash distributions; (e) earnings of any Person to which assets of Foamex or any of its Subsidiaries shall have been sold, transferred or disposed of, or into which Foamex or any of its Subsidiaries shall have been merged, or which has been a party with Foamex or any of its Subsidiaries to any consolidation or other form of reorganization, prior to the date of such transaction; (f) gain or loss arising from the acquisition of debt or equity securities of Foamex or any of its Subsidiaries or from cancellation or forgiveness of Debt; and (g) gain or loss arising from extraordinary items, as determined in accordance with GAAP.

  • GAAP means United States generally accepted accounting principles.

  • Financial Statement Date means December 31, 1999.

  • consolidated basis means on the basis of the consolidated situation;

  • Accounting Reference Date means 31 December of each year.

  • Statutory Financial Statements means, with respect to any Party, the annual and quarterly statutory financial statements of such Party filed with the Governmental Authority charged with supervision of insurance companies in the jurisdiction of domicile of such Party to the extent such Party is required by Applicable Law to prepare and file such financial statements.

  • Monthly Financial Statements is defined in Section 6.2(c).

  • Consolidated Cash Balance means, at any time, the aggregate amount of cash, cash equivalents, marketable securities, treasury bonds and bills, certificates of deposit, investments in money market funds and commercial paper, in each case, held or owned by (whether directly or indirectly), credited to the account of, or otherwise reflected as an asset on the balance sheet of, the Parent MLP and its Consolidated Subsidiaries.

  • Annual Accounting Period or “Financial Year” means the period commence on 1st July and shall end on 30th June of the succeeding calendar year.

  • Accounting Principles means the international financial reporting standards (IFRS) within the meaning of Regulation 1606/2002/EC (or as otherwise adopted or amended from time to time).

  • Cash Flow from Operations means net cash funds provided from operations, exclusive of Cash from Sales or Refinancing, of the Company or investment of any Company funds, without deduction for depreciation, but after deducting cash funds used to pay or establish a reserve for expenses, debt payments, capital improvements, and replacements and for such other items as the Board of Directors reasonably determines to be necessary or appropriate and subject to Loan Conditions.