Insurance Law 7502 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 7501 Purpose of article up ARTICLE 75 Life Insurance Guaranty Fund next SECTION 7503 The Life Insurance Guaranty Corporation Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 7502 Definitions Insurance (ISC) CHAPTER 28, ARTICLE 75 § 7502. Definitions. In this article: (a) "Board" means the board of directors of The Life Insurance Guaranty Corporation. (b) "Assessment" means a payment made by a company into the guaranty fund. (c) "Contributor" means a company paying an assessment. (d) "Corporation" means "The Life Insurance Guaranty Corporation." (e) "Fund" means the guaranty fund provided by this article. (f) "Member company" means any domestic life insurance company having a representative serving as a director upon the board of directors of the corporation. (g) "Policies" means insurance policies; "contracts" means annuity contracts; both terms include policies or contracts of reinsurance issued by a member company.