Non-Natural Person definition

Non-Natural Person. A corporation, trust or other non-living entity.
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Non-Natural Person means a person other than an individual;
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Non-Natural Person means any corporate body, unincorporated firm, partnership or body with legal personality except an individual, including any such entity constituted under the law of a country or territory outside the United Kingdom or any such entity constituted under international law;
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Examples of Non-Natural Person in a sentence

  • If the Owner is a Non-Natural Person, the death of the Annuitant will be treated as the death of the Owner.

  • If the Owner is a Non-Natural Person and there are Joint Annuitants, upon the death of the first Joint Annuitant to die, if this Contract is continued, the excess, if any, of the Death Benefit over the current Contract Value as of the date on which We approve the death claim for payment will be credited into this Contract.

  • For purposes of applying the rules of Code Section 72(s)(6) if the Owner is a Non-Natural Person, We will apply the Annuitant death rules set forth in these DEATH BENEFITS provisions.

  • Purchasers other than natural persons should complete the section titled Suitability of Investment for Non-Natural Person.

  • For Qualified Contracts the Owner may be a natural or Non-Natural Person.

  • The execution and delivery of this Agreement by each Seller and the consummation by the Sellers of the Contemplated Transactions has been duly and validly authorized (including, with respect to the Non-Natural Person Sellers, by all necessary corporate or trust action) and no other proceedings, corporate or otherwise, on the part of any Seller is necessary to authorize this Agreement or to consummate the Contemplated Transactions.

  • If the Owner is a Non-Natural Person, the Annuitant may not be changed.

  • A Death Benefit will be paid upon the death of the Owner, or upon the death of the Annuitant if the Owner is a Non-Natural Person, prior to the Annuity Start Date while this Contract is in force.

  • You may surrender this contract for its Cash Surrender Value on or before the Maximum Annuity Date and while all Owners are living or, if the Owner is a Non-Natural Person, while all Annuitants are living.

  • The person(s) or Non-Natural Person (“you” and “your”) who has (have) all rights under this Contract.


More Definitions of Non-Natural Person

Non-Natural Person means any legal person, unincorporated firm or body of persons or partnership not being an individual;
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Non-Natural Person. Any entity other than a Natural Person. Owner: A Natural or Non-Natural Person(s) named as such on the Annuity Data Page of this Contract. The Owner is also referred to as “You” and “Your” in this Contract. The definition includes Joint Owner.
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