Statutory surplus

 

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Statutory surplus

The surplus of an insurance company determined by the accounting treatment of both assets and liabilities as established by state statutes.



Statutory surplus

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Statutory sick pay (SSP)

Statutory sick pay (SSP)

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Statutory investment

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An investment that a trustee is authorized to make under state law.


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Statutory merger

A merger in which one corporation remains as a legal entity, instead of a new legal entity being formed.


Statutory debt limit

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The cap that Congress imposes on the amount of public debt that may be outstanding whether temporary or permanent. When this limit is reached, the Treasury may not sell new debt issues until Congress raises the limit. For a detailed listing of changes in the limit since 1941, see Budget of the United States Government. See: Debt outstanding subject to limitation.


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