Title 31A Chapter 17 Section 407
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Insurance Code | |
Determination of Financial Condition | |
Section 407 | Accounting for repurchased shares. |
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31A-17-407. Accounting for repurchased shares.
When a corporation acquires its own shares under Section 31A-5-306 or in any other way, the acquired shares are accounted as a deduction from capital and not as assets. Enacted by Chapter 242, 1985 General Session | |
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