Definitions

Source Credit

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.

History

(Pub. L. 106–102, title III, §315, Nov. 12, 1999, 113 Stat. 1420.)

Editorial Notes

Executive Documents

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.

Editorial Notes

Codification
Subtitle C of title III of the Gramm-Leach-Bliley Act, comprising this subchapter, was originally enacted by Pub. L. 106–102, title III, Nov. 12, 1999, 113 Stat. 1422. Such subtitle is shown herein, however, as having been added by Pub. L. 114–1, title II, §202(a), Jan. 12, 2015, 129 Stat. 12, because of the extensive revision of subtitle C by Pub. L. 114–1.