§ 6735. — Definitions.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC6735]
TITLE 15--COMMERCE AND TRADE
CHAPTER 93--INSURANCE
SUBCHAPTER II--REDOMESTICATION OF MUTUAL INSURERS
Sec. 6735. Definitions
For purposes of this subchapter, the following definitions shall
apply:
(1) Court of competent jurisdiction
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.
(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 prior to 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, 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.
(9) Redomesticated insurer
The term ``redomesticated insurer'' means a mutual insurer that
has redomesticated pursuant to this subchapter.
(10) Redomesticating insurer
The term ``redomesticating insurer'' means a mutual insurer that
is redomesticating pursuant to 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
pursuant to 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 pursuant to any
such statute.
(14) Transferee domicile
The term ``transferee domicile'' means the State to which a
mutual insurer is redomesticating pursuant to this subchapter.
(15) Transferor domicile
The term ``transferor domicile'' means the State from which a
mutual insurer is redomesticating pursuant to this subchapter.
(Pub. L. 106-102, title III, Sec. 315, Nov. 12, 1999, 113 Stat. 1420.)
Termination of Trust Territory of the Pacific Islands
For termination of Trust Territory of the Pacific Islands, see note
set out preceding section 1681 of Title 48, Territories and Insular
Possessions.
