734.890 Associationnot to be used in sales or solicitation
734.010 [1967 c.359 §258;repealed by 1993 c.447 §122]
GENERALPROVISIONS
734.014Definitions.As used in this chapter:
(1)“Delinquency proceeding” means any proceeding commenced against an insurerpursuant to this chapter for the purpose of liquidating, rehabilitating orconserving the insurer.
(2)“Foreign country” means territory not in any state.
(3)“General assets” means all property, real, personal or otherwise, notspecifically mortgaged, pledged, deposited or otherwise encumbered for thesecurity or benefit of specified persons or a limited class or classes ofpersons. As to specifically encumbered property, “general assets” includes allsuch property or its proceeds in excess of the amount necessary to discharge thesum or sums secured thereby. Assets held in trust and assets held on depositfor the security or benefit of all policyholders or all policyholders andcreditors, in more than a single state, shall be treated as general assets.
(4)An insurer is “impaired” when its allowed assets do not exceed its liabilitiesplus its required capitalization.
(5)An insurer is “insolvent” when the insurer is unable to pay its obligationswhen they are due, or when its allowed assets do not exceed its liabilities.
(6)“Insurer” includes:
(a)All persons transacting or purporting to transact insurance as insurers in thisstate; and
(b)All persons in process of organization to become insurers.
734.890 Associationnot to be used in sales or solicitation
734.010 [1967 c.359 §258;repealed by 1993 c.447 §122]
GENERALPROVISIONS
734.014Definitions.As used in this chapter:
(1)“Delinquency proceeding” means any proceeding commenced against an insurerpursuant to this chapter for the purpose of liquidating, rehabilitating orconserving the insurer.
(2)“Foreign country” means territory not in any state.
(3)“General assets” means all property, real, personal or otherwise, notspecifically mortgaged, pledged, deposited or otherwise encumbered for thesecurity or benefit of specified persons or a limited class or classes ofpersons. As to specifically encumbered property, “general assets” includes allsuch property or its proceeds in excess of the amount necessary to discharge thesum or sums secured thereby. Assets held in trust and assets held on depositfor the security or benefit of all policyholders or all policyholders andcreditors, in more than a single state, shall be treated as general assets.
(4)An insurer is “impaired” when its allowed assets do not exceed its liabilitiesplus its required capitalization.
(5)An insurer is “insolvent” when the insurer is unable to pay its obligationswhen they are due, or when its allowed assets do not exceed its liabilities.
(6)“Insurer” includes:
(a)All persons transacting or purporting to transact insurance as insurers in thisstate; and
(b)All persons in process of organization to become insurers.
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734.890 Associationnot to be used in sales or solicitation
734.010 [1967 c.359 §258;repealed by 1993 c.447 §122]
GENERALPROVISIONS
734.014Definitions.As used in this chapter:
(1)“Delinquency proceeding” means any proceeding commenced against an insurerpursuant to this chapter for the purpose of liquidating, rehabilitating orconserving the insurer.
(2)“Foreign country” means territory not in any state.
(3)“General assets” means all property, real, personal or otherwise, notspecifically mortgaged, pledged, deposited or otherwise encumbered for thesecurity or benefit of specified persons or a limited class or classes ofpersons. As to specifically encumbered property, “general assets” includes allsuch property or its proceeds in excess of the amount necessary to discharge thesum or sums secured thereby. Assets held in trust and assets held on depositfor the security or benefit of all policyholders or all policyholders andcreditors, in more than a single state, shall be treated as general assets.
(4)An insurer is “impaired” when its allowed assets do not exceed its liabilitiesplus its required capitalization.
(5)An insurer is “insolvent” when the insurer is unable to pay its obligationswhen they are due, or when its allowed assets do not exceed its liabilities.
(6)“Insurer” includes:
(a)All persons transacting or purporting to transact insurance as insurers in thisstate; and
(b)All persons in process of organization to become insurers.
