623.02 Standards for accounting rules. When promulgating accounting rules, the commissioner shall consider recommendations made by the National Association of Insurance Commissioners, generally accepted accounting principles both in the insurance industry and outside it, the requirements of the law and the needs of regulation, including detection of insolvency, and the needs for information of insureds, investors, and the public.
History: 1973 c. 293.
NOTE: The bill that created ss. 623.02 to 623.04 and s. 623.21, 1973 SB 174, contained extensive explanatory notes that may be found in the bill drafting file in the Legislative Reference Bureau for Chapter 293, laws of 1973.