Guaranty association definition

Guaranty association means the Iowa insurance guaranty association created in chapter 515B, the Iowa life and health insurance guaranty association created in chapter 508C, and any other similar entity either presently existing or to be created by the general assembly for the payment of claims of insolvent insurers. “Foreign guaranty association” means a similar entity presently existing in or to be created in the future by the legislature of any other state.
Guaranty association means the Ohio insurance guaranty association created by section 3955.06 of the Revised Code and any other similar entity hereafter created by the general assembly for the payment of claims of insolvent insurers. "Foreign guaranty association" means any similar entities now in existence in or hereafter created by the legislature of any other state.
Guaranty association means the Michigan property and casualty guaranty association, the worker's compensation self-insurance security fund, the Michigan life and health insurance guaranty association, and any other similar entity now or hereafter created by the legislature of this state for the payment of claims of insolvent insurers. "Foreign guaranty association" means any similar entities now in existence or hereafter created by the legislature of any other state.

Examples of Guaranty association in a sentence

  • Assets held in trust and on deposit for the security or9 benefit of all policyholders or all policyholders and creditors, in10 more than a single state, shall be treated as general assets.11 "Guaranty association" means the New Jersey Life and Health12 Insurance Guaranty Association created in subsection a.


More Definitions of Guaranty association

Guaranty association means the South Carolina Property and Casualty Insurance Guaranty Association, the South Carolina Life and Accident and Health Insurance Guaranty Association, and any other similar entity created by the legislature of this State for the payment of claims of insolvent insurers. ‘Foreign guaranty association’ means any similar entity created by the legislature of any other state.
Guaranty association means any mechanism mandated by Chapter 462, 463, or 2602 or other laws of this state or a similar mechanism in another state that is created for the payment of claims or continuation of policy obligations of financially impaired or insolvent insurers.
Guaranty association means any mechanism
Guaranty association means an insurance guaranty fund or association or any similar entity now or hereafter created by statute in a compacting state, other than a receivership, to pay or assume, in whole or in part, the contractual claim obligations of insolvent insurers.
Guaranty association means a mutual deposit guaranty association which is a corporation organized under this Chapter or its predecessor and operated under the provisions of Article 12 of this Chapter.
Guaranty association means the Montana insurance guaranty association, the workers'
Guaranty association means the New Jersey Life and Health