Valuation of Securities Laws.

Valuation of Securities Laws.
A development of the year in the field of valuation of securities was of major interest. To render financial assistance to the state insurance departments in establishing a competent staff for the valuation of types of investments not properly subject to valuation on a market or amortized basis, there were enacted in 1949, with approval and sponsorship of companies in the states involved, laws in Connecticut, Massachusetts, New Jersey, New York, and Pennsylvania. The measure provided for an over-all annual sum not to exceed $250,000 to be assessed against the domestic companies of these states in proportion to their securities subject to valuation. Life insurance companies thus demonstrated their willingness to co-operate fully with state regulatory officials in the interest of sound supervision of their affairs. A problem of supervision which required the participation of more than one state was solved within the framework of state regulation.