§ 87-e. Amortization of gains or losses. Gains or losses realized by
the state insurance fund as a result of sales or dispositions pursuant
to the authorization and direction of section eighty-seven-a,
eighty-seven-b, eighty-seven-bb, eighty-seven-c, or eighty-seven-f of
this chapter shall be transferred to a special asset account to be known
as the deferred charge on account of security exchanges and shall be
amortized within such account on a basis which matches as nearly as
possible all gains or losses so realized against any increase or
decrease in income resulting from the reinvestment of the proceeds of
such sales or dispositions, provided that the period of amortization of
the gain or loss resulting from the sale or disposition of each
investment shall not be longer than the unexpired period from the date
of such sale or disposition to the maturity of the investment so sold or
disposed of, or on such other basis as the superintendent of financial
services may authorize in his discretion.