§431:5-309  Valuation of other securities. (a)  Any security, other than a security covered by section 431:5-308, isrequired to be valued at its market value or, if there is no market, at itsvalue as fixed by an impartial appraiser, all consistent with any currentmethod for the valuation of any such security formulated or approved by theNational Association of Insurance Commissioners.

(b)  Preferred or guaranteed stock or shareswhile paying full dividends may be carried at a fixed value in lieu of marketvalue, at the discretion of the commissioner and in accordance with such methodof computation as the commissioner may approve.

(c)  The stock of a subsidiary of an insureracquired after January 1, 1956, shall be valued on the basis of the value ofonly such of the assets of the subsidiary as would constitute lawfulinvestments for the insurer if acquired or held directly by the insurer. [L1987, c 347, pt of §2]