44-319.01. Domestic companies; securities; terms, defined.

160 words·~1 min read·/ne/chapter-44/44-319-01

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

For purposes of sections 44-319.01 to 44-319.13 , unless the context otherwise requires:

(1)Director shall mean the Director of Insurance or his or her authorized representative;

(2)Policyholders shall mean all persons having a legal or equitable right against a depositing insurer or assessment association arising out of or by reason of depositing insurer's or association's policies and obligees under its surety contracts;

(3)State shall mean any state of the United States, the government of Puerto Rico, and the District of Columbia;

(4)Eligible securities shall mean the investments authorized under the Insurers Investment Act other than investments authorized under sections 44-5134 , 44-5143 to 44-5145 , 44-5149 , 44-5152 , and 44-5153 , and unless otherwise provided by law, the values of such investments shall, for the purpose of sections 44-319.01 to 44-319.13 , be an amount not exceeding the current market values thereof; and

(5)Insurer shall mean stock and mutual insurance companies and reciprocal exchanges.