Tenn. Comp. R. & Regs. 0780-01-32-.08

Current through June 26, 2024

Section 0780-01-32-.08 - VALUATION

(1) Provided Section 7A.1 hereof has been complied with, stock with respect to which an exchange-traded call option has been sold shall be valued, so long as the obligation under the options exists, at the lesser of (a) the exercise price of the option or (b) the current market price of the stock.

(2) Each unexercised and unexpired exchange-traded call option held by a domestic insurance company shall be valued at the current market price therefor on an exchange.

Original rule filed January 21, 1976; effective February 20, 1976.

Authority: T.C.A. §§ 56-1-701, 56-3-302, 56-3-303, 56-3-304, 56-19-114, 56-21-104, 56-23-110, and 56-23-111.