Annual Statutory Financial Statement [Agriculture] Law and Legal Definition

According to 7 CFR 400.161 [Title 7—Agriculture; Subtitle B -- Regulations of the Department of Agriculture; Chapter IV -- Federal Crop Insurance Corporation, Department of Agriculture; Part 400 -- General Administrative Regulations; Subpart L -- Reinsurance Agreement -- Standards for Approval; Regulations for the 1997 and Subsequent Reinsurance Years], annual statutory financial statement means “the annual financial statement of an insurer prepared in accordance with Statutory Accounting Principles and submitted to the state insurance department if required by any state in which the insurer is licensed.”