Divisible surplus definition

Divisible surplus means the annual distribution described in s. 632.62 (4) (b) as a payment made to policyholders as determined by the board.
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Divisible surplus means any surplus from the life insurance fund to be distributed from time to time as bonus and/or dividends.
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Divisible surplus means any surplus from the life insurance fund to be distributed from time to time as bonus and/ or dividends.
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Examples of Divisible surplus in a sentence

  • Divisible surplus, if any, to be apportioned to the contract shall be apportioned annually and shall be paid in cash or credited to the Contract Value at the end of the contract year.

  • Divisible surplus, if any, to be apportioned to this contract shall be apportioned annually and will be allocated by us equitably among all Participants.

  • Divisible surplus, if any, to be apportioned to the contract shall be apportioned annually and shall be paid in cash or credited to your Contract Value at the end of the contract year.

  • Divisible surplus so allocated will be credited as Purchase Payments to the Participants' Variable and Fixed Accounts, unless the Participant elects to have it paid in cash.

  • Divisible surplus apportioned to this contract, if any, will be applied to provide additional accumulation units or annuity units unless you elect to have it paid in cash.

  • Divisible surplus so allocated will be credited as Purchase Payments to the Participants' Variable and Fixed Accounts, unless the Owner elects to have it paid in cash.

  • Divisible surplus, if any, to be apportioned to the contract shall be apportioned annually and shall be paid in cash or applied to provide additional accumulation units or annuity units under the contract.

  • Divisible surplus, if any, to be apportioned to the Contract shall be ascertained and apportioned annually and shall be paid in cash or credited to the Contract Value at the end of the contract year.

Related to Divisible surplus

  • Capital Surplus has the meaning assigned to such term in Section 6.3(a).

  • Operating Surplus means, with respect to any period ending prior to the Liquidation Date, on a cumulative basis and without duplication,

  • Common Surplus means the amount of all receipts or revenues, including assessments, rents, or profits, collected by a condominium association which exceeds common expenses.

  • Adjusted Operating Surplus means, with respect to any period, (a) Operating Surplus generated with respect to such period less (b) (i) the amount of any net increase in Working Capital Borrowings (or the Partnership’s proportionate share of any net increase in Working Capital Borrowings in the case of Subsidiaries that are not wholly owned) with respect to such period and (ii) the amount of any net decrease in cash reserves (or the Partnership’s proportionate share of any net decrease in cash reserves in the case of Subsidiaries that are not wholly owned) for Operating Expenditures with respect to such period not relating to an Operating Expenditure made with respect to such period, and plus (c) (i) the amount of any net decrease in Working Capital Borrowings (or the Partnership’s proportionate share of any net decrease in Working Capital Borrowings in the case of Subsidiaries that are not wholly owned) with respect to such period, (ii) the amount of any net decrease made in subsequent periods in cash reserves for Operating Expenditures initially established with respect to such period to the extent such decrease results in a reduction in Adjusted Operating Surplus in subsequent periods pursuant to clause (b)(ii) above and (iii) the amount of any net increase in cash reserves (or the Partnership’s proportionate share of any net increase in cash reserves in the case of Subsidiaries that are not wholly owned) for Operating Expenditures with respect to such period required by any debt instrument for the repayment of principal, interest or premium. Adjusted Operating Surplus does not include that portion of Operating Surplus included in clause (a)(i) of the definition of “Operating Surplus.”

  • Statutory Surplus means, with respect to any Insurance Subsidiary at any time, the statutory capital and surplus of such Insurance Subsidiary at such time, as determined in accordance with SAP ("Liabilities, Surplus and Other Funds" statement, page 3, line 25 of the Annual Statement for the 1995 Fiscal Year entitled "Surplus as Regards Policyholders").