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§7502

§7502 . Definitions. In this article:

§7502(a)

(a) "Board" means the board of directors of The Life Insurance Guaranty Corporation.

§7502(b)

(b) "Assessment" means a payment made by a company into the guaranty fund.

§7502(c)

(c) "Contributor" means a company paying an assessment.

§7502(d)

(d) "Corporation" means "The Life Insurance Guaranty Corporation. "

§7502(e)

(e) "Fund" means the guaranty fund provided by this article.

§7502(f)

(f) "Member company" means any domestic life insurance company having a representative serving as a director upon the board of directors of the corporation.

§7502(g)

(g) "Policies" means insurance policies; "contracts" means annuity contracts; both terms include policies or contracts of reinsurance issued by a member company.
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©2009 Paul Margus, FSA, MAAA