Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A * life insurance company can deduct the * transfer values of assets transferred in the income year to the company's * segregated exempt assets under subsection 320 - 235(3) or 320 - 240(1).
(2) If an asset (other than money) is transferred to a *
life insurance company's * segregated exempt assets under subsection
320 - 235(3) or section 320 - 240, the company can deduct the
amount (if any) that it can deduct because of section 320 - 255.