Section 2280 - Definitions(a) The term "association value" of a particular security as used in this article means the value of such security as established, promulgated, and recommended for use by the Committee on Valuation of Securities of the National Association of Insurance Commissioners, 60 Wall Street, New York, N.Y. 10005.(b) Except where the context provides to the contrary, the words "financial statements" as herein below used in this article mean the financial statements and reports required of any insurer admitted to do business in the State of California, for the purpose of exhibiting the company's condition and affairs which the statements and reports are or may be required to be filed with the Insurance Commissioner of the State of California.(c) The term "subsidiary company" shall mean a corporation more than 50% of the outstanding capital stock of which is owned or controlled, directly or indirectly, by the reporting insurer or by a corporation affiliated with the reporting corporation, or by any or all of these.Cal. Code Regs. Tit. 10, § 2280
1. Amendment filed 2-4-71 as an emergency; effective upon filing (Register 71, No. 6). For prior history, see Register 70, No. 27.
2. Certificate of Compliance-Sec. 11422.1, Government Code, filed 3-12-71 (Register 71, No. 11). 1. Amendment filed 2-4-71 as an emergency; effective upon filing (Register 71, No. 6). For prior history, see Register 70, No. 27.
2. Certificate of Compliance-Sec. 11422.1, Government Code, filed 3-12-71 (Register 71, No. 11).