15 U.S.C. § 6735 — Definitions
submitted 27 years ago by Pub. L. 106-102 to r/title-15-COMMERCE-AND-TRADE · 469 words · no verdicts yet
This section defines terms used in the subchapter, including “business entity,” “insurance producer,” “insurer,” “State,” and “State law.” Some definitions refer to other federal statutes.
For purposes of this subchapter, the following definitions must apply:
(1) Court of competent jurisdiction The term “court of competent jurisdiction” means a court authorized under section 6734
(a) of this title to adjudicate litigation arising under this subchapter.
(2) Domicile The term “domicile” means the State in which an insurer is incorporated, chartered, or organized.
(3) Insurance licensee The term “insurance licensee” means any person holding a license under State law to act as insurance agent, subagent, broker, or consultant.
(4) Institution The term “institution” means a corporation, joint stock company, limited liability company, limited liability partnership, association, trust, partnership, or any similar entity.
(5) Licensed State The term “licensed State” means any State, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands in which the redomesticating insurer has a certificate of authority in effect immediately before the redomestication.
(6) Mutual insurer The term “mutual insurer” means a mutual insurer organized under the laws of any State.
(7) Person The term “person” means an individual, institution, government or governmental agency, State or political subdivision of a State, public corporation, board, association, estate, trustee, or fiduciary, or other similar entity.
(8) Policyholder The term “policyholder” means the owner of a policy issued by a mutual insurer, except that, for voting rights, the term means a member of a mutual insurer or mutual holding company granted the right to vote, as determined under applicable State law.
(9) Redomesticated insurer The term “redomesticated insurer” means a mutual insurer that has redomesticated under this subchapter.
(10) Redomesticating insurer The term “redomesticating insurer” means a mutual insurer that is redomesticating under this subchapter.
(11) Redomestication or transfer The term “redomestication” or “transfer” means the transfer of the domicile of a mutual insurer from one State to another State under this subchapter.
(12) State insurance regulator The term “State insurance regulator” means the principal insurance regulatory authority of a State, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands.
(13) State law The term “State law” means the statutes of any State, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands and any regulation, order, or requirement prescribed under any such statute.
(14) Transferee domicile The term “transferee domicile” means the State to which a mutual insurer is redomesticating under this subchapter.
(15) Transferor domicile The term “transferor domicile” means the State from which a mutual insurer is redomesticating under this subchapter.
For purposes of this subchapter, the following definitions shall apply:
The term “court of competent jurisdiction” means a court authorized pursuant to section 6734(a) of this title to adjudicate litigation arising under this subchapter.
The term “domicile” means the State in which an insurer is incorporated, chartered, or organized.
The term “insurance licensee” means any person holding a license under State law to act as insurance agent, subagent, broker, or consultant.
The term “institution” means a corporation, joint stock company, limited liability company, limited liability partnership, association, trust, partnership, or any similar entity.
The term “licensed State” means any State, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands in which the redomesticating insurer has a certificate of authority in effect immediately prior to the redomestication.
The term “mutual insurer” means a mutual insurer organized under the laws of any State.
The term “person” means an individual, institution, government or governmental agency, State or political subdivision of a State, public corporation, board, association, estate, trustee, or fiduciary, or other similar entity.
The term “policyholder” means the owner of a policy issued by a mutual insurer, except that, with respect to voting rights, the term means a member of a mutual insurer or mutual holding company granted the right to vote, as determined under applicable State law.
The term “redomesticated insurer” means a mutual insurer that has redomesticated pursuant to this subchapter.
The term “redomesticating insurer” means a mutual insurer that is redomesticating pursuant to this subchapter.
The term “redomestication” or “transfer” means the transfer of the domicile of a mutual insurer from one State to another State pursuant to this subchapter.
The term “State insurance regulator” means the principal insurance regulatory authority of a State, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands.
The term “State law” means the statutes of any State, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands and any regulation, order, or requirement prescribed pursuant to any such statute.
The term “transferee domicile” means the State to which a mutual insurer is redomesticating pursuant to this subchapter.
The term “transferor domicile” means the State from which a mutual insurer is redomesticating pursuant to this subchapter.
Source credit: (Pub. L. 106–102, title III, § 315, Nov. 12, 1999, 113 Stat. 1420.)
- 1999Enacted · Pub. L. 106-102 · 113 Stat. 1420
A history note hasn’t been published yet. The record shows enactment by Pub. L. 106-102 on 1999-11-12.
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