Permitted Practices Clause Samples
Permitted Practices. During the term of this Agreement, the Reinsurer shall not depart, and shall not request from the Insurance Regulator with jurisdiction over the Reinsurer permission to depart, from NAIC statutory accounting practices and procedures pertaining to the admissibility or valuation of assets or liabilities that increase the Reinsurer’s reported surplus and are material enough that they need to be disclosed in the financial statement of the Reinsurer pursuant to Statement of Statutory Accounting Principles No. 1, unless (i) the Reinsurer has obtained the advance written consent of the Ceding Company, or (ii) the Reinsurer ensures that the Ceding Company is fully compliant under AG 48.
Permitted Practices. The following Advertising activities are permitted:
1. A Marijuana Establishment may develop a Brand Name to be used in labeling, signage, and other materials; provided however, that use of medical symbols, images of Marijuana or Marijuana Products, or related Paraphernalia images, that are appealing to persons younger than 21 years old, and colloquial references to Marijuana and Cannabis are prohibited from use in the Brand Name
2. Brand Name Sponsorship of a charitable, sporting or similar event, so long as the following conditions are met.
a. Sponsorship of the event is limited to the Brand Name.
b. Any Advertising at or in connection with such an event is prohibited, unless such Advertising is targeted to entrants or participants reasonably expected to be 21 years of age or older, as determined by reliable, current audience composition data, and reasonable safeguards have been employed to prohibit Advertising from targeting or otherwise reaching entrants or participants reasonably expected to be under 21 years of age, as determined by reliable, current audience composition data;
3. Brand Name Sponsorship of a charitable, cultural or similar event both held and organized by the city or town in which the sponsoring Marijuana Establishment or CMO is licensed to conduct business, so long as the following conditions are met:
a. Sponsorship of said event shall be included in its Positive Impact Plan submitted in accordance with 935 CMR 500.101(1)(a)11;
b. Sponsorship of the event is limited to the Brand Name;
c. Any Advertising at or in connection with such an event is prohibited, unless such Advertising is targeted to entrants or participants reasonably expected to be 21 years of age or older, as determined by reliable, current audience composition data, and reasonable safeguards have been employed to prohibit Advertising from targeting or otherwise reaching entrants or participants reasonably expected to be under 21 years of age, as determined by reliable, current audience composition data;
4. A Marijuana Establishment engaging in Brand Name Sponsorship under 935 CMR 500.105(4)(a)2. and 3. shall retain documentation of reliable, reasonable audience composition data that is the basis for allowing any such Advertising or branding for a period of one (1) year, or longer if otherwise required by the Commission, or a court or agency with jurisdiction.
Permitted Practices. Except as set forth in Section 3.19 of the Ceding Company Disclosure Schedules, there are no permitted practices used by any of the Ceding Companies in connection with the Reinsured Policies.