Statutory Net Worth definition

Statutory Net Worth means, with respect to any HMO Subsidiary or any Insurance Subsidiary (other than a Designated HMO Subsidiary or a Designated Insurance Subsidiary), as of the end of any fiscal year, the difference between (a) total admitted assets and (b) total liabilities, in each case as calculated according to the applicable state’s interpretation of SAP in the applicable jurisdiction as most recently reported to the applicable jurisdiction for such fiscal year.
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Statutory Net Worth means the net worth of the company calculated in accordance with generally accepted accounting principles, as modified by Sections 625.012 and 625.031, F.S.
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Statutory Net Worth means, with respect to each Regulated Subsidiary, at any time, the difference between (a) total admitted assets and (b) total liabilities, in each case as calculated according to SAP in the applicable jurisdiction.
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Examples of Statutory Net Worth in a sentence

  • Under the requirements of the IC and the Insurance Code, the Company should meet the minimum levels set for the following capital requirements: Minimum Statutory Net Worth and Paid-up Capital, and RBC.

  • The Adjusted Statutory Net Worth for the Reference Net Worth Statement equals the “surplus as regards policyholders” shown in the Reference Balance Sheet, adjusted to reflect the following additions and/or subtractions (as the case may be and as shown in the calculation in Section 1.1(c) of the Seller Disclosure Schedule): 1.

  • The Adjusted Statutory Net Worth for the Estimated Net Worth Statement and the Closing Net Worth Statement shall equal the “surplus as regards policyholders” shown in the corresponding Subsequent Reference Balance Sheet, adjusted to reflect the following additions and/or subtractions (as the case may be and as shown in the calculation below): 1.

  • For purposes of the Agreement, “Purchase Price” means an amount equal to (i) $1,050,000,000 (ii) plus (if positive) or less the absolute value (if negative) of (A) the Adjusted Statutory Net Worth as of the Net Worth Statement Time less (B) $769,989,161.

  • Supplemental Capital Available to* FISCUs would be based on state law Statutory Net Worth Definition §1790(o)(2) Net worth.—The term “net worth”— (C) with respect to a low-income credit union, includes secondary capital accounts that are—(i) uninsured; and(ii)subordinate to all other claims against the credit union, including the claims of creditors, shareholders, and the FundSecondary vs.

  • Seller shall have been able to successfully cause the Companies to dividend out to Seller all but $6,000,000 of the Statutory Net Worth of both FGHP and FG Kansas combined.

  • If the Regulated Subsidiaries’ Closing Date Statutory Net Worth is more than the Statutory Net Worth Requirement, then the Base Purchase Price shall be increased by an amount equal to the Closing Date Statutory Net Worth minus the Statutory Net Worth Requirement.

  • As of the end of each of their calendar quarters (commencing with the calendar quarter ending March 31, 2014), the Operating Subsidiaries shall maintain a combined Statutory Net Worth in an amount not less than Fifty Million and 00/100 Dollars ($50,000,000.00).

  • As at December 31, 2022 and 2021, the Company has complied with the unimpaired capital requirement.Minimum Statutory Net Worth RequirementsOn January 13, 2015, the IC issued CL No. 2015-02-A clarifying the minimum capitalization and net worth requirements of all insurance companies in the Philippines.

  • In the event the Company’s Statutory Net Worth as of the Effective Date exceeds the Statutory Amount, Buyer shall pay the difference to Sellers in cash or by wire transfer of immediately available funds on or before the first anniversary of the Effective Date.


More Definitions of Statutory Net Worth

Statutory Net Worth is defined by the New York statutes, rules and regulations with respect to certified health maintenance organizations.
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Statutory Net Worth means statutory policyholder's surplus as determined in accordance with statutory accounting principles made applicable to the Operating Subsidiaries under applicable insurance regulatory laws.
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Statutory Net Worth. As to HRMPA, as of any date of determination, the total amount shown as its Total Net Worth in Part B of HRMPA's Statutory Financial Statement for the applicable fiscal period.
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Statutory Net Worth means, subject to the adjustments expressly described herein, the difference between total assets and total liabilities each as determined in accordance with Statutory Accounting Principles.
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Statutory Net Worth means net worth as calculated by the applicable governing body or bodies of either State.
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Statutory Net Worth means the excess, if any, of the value of the Company’s aggregate cash and cash equivalents as of the Effective Date over the Company’s total liabilities (including the Medical Claims Reserve) as of the Effective Date, as reflected on the statutory financial statements of the Company for the period ended on the day prior to the Effective Date (as adjusted, if necessary, to exclude the early receipt of the CMS payment for the period immediately following the Effective Date).
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Related to Statutory Net Worth

  • Net Worth means the aggregate value of the paid-up share capital and all reserves created out of the profits and securities premium account, after deducting the aggregate value of the accumulated losses, deferred expenditure and miscellaneous expenditure not written off, as per the audited balance sheet, but does not include reserves created out of revaluation of assets, write-back of depreciation and amalgamation.

  • Tangible Net Worth means at any date as of which the amount thereof shall be determined, the consolidated total assets of Borrower and its Subsidiaries minus, without duplication, (i) the sum of any amounts attributable to (a) goodwill, (b) intangible items such as unamortized debt discount and expense, patents, trade and service marks and names, copyrights and research and development expenses except prepaid expenses, and (c) all reserves not already deducted from assets, and (ii) Total Liabilities.

  • Consolidated Tangible Net Worth means, as of any date of determination, for the Borrower and its Subsidiaries on a consolidated basis, Shareholders’ Equity of the Borrower and its Subsidiaries on that date minus the Intangible Assets of the Borrower and its Subsidiaries on that date.

  • Net Book Value means the net book value of the relevant Supplier Asset(s) calculated in accordance with the depreciation policy of the Supplier set out in the letter in the agreed form from the Supplier to the Costumer of even date with this Call Off Contract;

  • Target Net Working Capital means $0.