33-5-403. Financial condition -- method of determining. In determining the financial condition of a reciprocal insurer the commissioner shall apply the following rules:

(1) The commissioner shall charge as liabilities the same reserves that are required of incorporated insurers issuing nonassessable policies on a reserve basis.

(2) The surplus deposits of subscribers must be allowed as assets, except that any premium deposits delinquent for 90 days must first be charged against the surplus deposit.

(3) The surplus deposits of subscribers may not be charged as a liability.

(4) All premium deposits that are delinquent for less than 90 days must be allowed as assets.

(5) An assessment levied upon subscribers and not collected may not be allowed as an asset.

(6) The contingent liability of subscribers may not be allowed as an asset.

(7) The computation of reserves must be based upon premium deposits other than membership fees and without any deduction for expenses and the compensation of the attorney.