Statutory Earnings definition

Statutory Earnings means, for any period, for any Regulated Insurance Company, (i) the total amount as would be shown on line 31, page 4, column 1 of a Benchmark Statement for such Regulated Insurance Company (i.e., net gain from operations, after taxes but before unrealized capital gains and losses) prepared for such period less (ii) the undistributed earnings of Subsidiaries of such Regulated Insurance Company to the extent included in such total amount.
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Statutory Earnings means, for any period, for any Regulated Insurance Company, the net income of such Regulated Insurance Company determined in accordance with SAP as reported on line 16, page 4, column 1 of the Annual Statement of such Regulated Insurance Company, or an amount determined in a consistent manner for any date other than one as of which an Annual Statement is prepared.
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Statutory Earnings means, for any Insurance Subsidiary, for any period, the net income from operations after federal income taxes for such period, determined in conformity with SAP.
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Examples of Statutory Earnings in a sentence

  • Borrowers shall not permit the Statutory Earnings of GAIC to be less than (a) $500,000 for its fiscal year ending December 31, 2001 and (b) $2,500,000 for any fiscal year thereafter.

  • The Borrower will not permit the Cumulative Statutory Earnings Before Taxes of RECO to be less than the following amounts for the following fiscal years ending December 31: 1995, $3,000,000; 1996, $6,000,000; 1997, $9,000,000; 1998, $12,000,000; 1999, $15,000,000.

  • Borrowers shall not permit the Statutory Earnings of GAIC to be less than (a) $2,250,000 for its fiscal year ending December 31, 1999, (b) $4,500,000 for its fiscal year ending December 31, 2000, (c) $5,500,000 for its fiscal year ending December 31, 2001 and (d) $6,000,000 for any fiscal year thereafter.

Related to Statutory Earnings

  • Weekly Earnings means, in the case of a day or shift worker, 40 hours x his regular rate;

  • Monthly Earnings means your gross monthly income from your Employer, not including shift differential, in effect just prior to your date of disability. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Gross earnings means all monies earned by the Employee under the terms of this Collective Agreement.

  • total earnings means all of the dentist's gross earnings from the practice of dentistry by him in person, and "NHS earnings" means the dentist's gross earnings from the provision by him in person of general dental services under the National Health Service (Scotland) Act 1978, as amended, including where the dentist's name is included in sub-part A of the first part, or Part A prior to 2 July 2010, of two or more dental lists in Scotland, but neither his total earnings nor his NHS earnings shall be taken to include any remuneration by way of salary;