Insurance Settlements on Loss of Property 415-25-10-30

(Revised 11/02 ML #2829)

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The portion of a loss settlement obligated to replace the loss, pay off indebtedness, or otherwise obligated by the loss is NOT counted. Any portion of the settlement above indebtedness or replacement cost is counted as an available asset unless it has been converted to another uncounted asset (i.e. used to purchase car, etc.).