§ 59A-8-1 “Assets” defined
§ 59A-8-2 Assets not allowed
§ 59A-8-3 Disallowance of “wash” transactions
§ 59A-8-4 Liabilities, in general
§ 59A-8-5 Standard valuation law, life insurance and annuities
§ 59A-8-7.1 Continued liability after assumption reinsurance transactions
§ 59A-8-8 Loss reserves
§ 59A-8-9 Unearned premium reserve, casualty, vehicle, property, marine and surety insurances
§ 59A-8-10 Unearned premium reserve, marine and transportation insurance
§ 59A-8-11 Title insurance reserves
§ 59A-8-12 Mortgage guaranty contingency reserve
§ 59A-8-13 Valuation of bonds
§ 59A-8-14 Valuation of other securities
§ 59A-8-15 Valuation of property
§ 59A-8-16 Valuation of purchase money mortgages

Terms Used In New Mexico Statutes > Chapter 59A > Article 8 - Assets and Liabilities

  • Amortization: Paying off a loan by regular installments.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Appraisal: A determination of property value.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Personal property: All property that is not real property.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Statute: A law passed by a legislature.