Funeral supply inventories owned by the insurer shall be valued at an amount not exceeding cost to the insurer or market value, whichever is lower. Funeral equipment owned by the insurer shall be valued at an amount not in excess of cost to the insurer reduced by depreciation at the rate of not less than 18 percent per annum from date of acquisition of such equipment.
Structure Code of Alabama
Section 27-37-1 - Assets - Generally.
Section 27-37-2 - Assets - Exclusions.
Section 27-37-3 - Assets and Liabilities as Deductions.
Section 27-37-4 - Disallowance of Assets or Credits for Deception.
Section 27-37-5 - Valuation - Bonds and Other Evidences of Debt.
Section 27-37-6 - Valuation - Other Securities; Preferred or Guaranteed Stocks or Shares.
Section 27-37-8 - Valuation - Funeral Supplies and Equipment.