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Code · North Carolina · Chapter 58 — Insurance

§ 58-13-15. Definitions.

121 words·~1 min read·/nc/chapter-58/58-13-15

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§ 58-13-15. Definitions.
As used in this Article:
(1)"Assets" means all property, real or personal, tangible or intangible, legal or equitable, owned by an insurer.
(2)"Claimants" means any owners, beneficiaries, assignees, certificate holders, or third-party beneficiaries of any insurance benefit or right arising out of and within the coverage of an insurance policy covered by this Article.
(3)"Reserve assets" means those assets of an insurer that are authorized investments for policy reserves in accordance with this Chapter.
(4)"Policyholder-related liabilities" means those liabilities that are required to be established by an insurer for all of its outstanding insurance policies in accordance with this Chapter. (1985, c. 327, s. 1; 1993, c. 504, s. 8; 2001-223, ss. 13.2, 13.3.)
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