Examples of PLIC in a sentence
The opinion that PLIC is duly licensed under the insurance laws of Tennessee is based solely upon the Certificate of Compliance.
PLIC was redomesticated from the State of Alabama to the State of Tennessee in 1992 and is duly incorporated, validly existing and in good standing under the laws of the State of Tennessee.
PLIC is a valid corporation, organized and operated under the laws of the State of New York and is subject to regulation by the New York Commissioner of Insurance.
PLIC has duly authorized, executed and delivered the Funding Agreement.
In rendering this Opinion, I have assumed the due authorization, execution and delivery of all documents by the parties thereto, other than as to the authorization, execution and delivery of the Funding Agreement by PLIC, and the conformity to authentic, original documents of all documents submitted to me as certified, conformed or photostatic copies.
PLIC has full corporate power and authority to execute and deliver, and to perform its obligations under, the Funding Agreement.
To the best of my knowledge, no order, consent, permit or approval of any Tennessee court or Tennessee governmental authority having jurisdiction over PLIC is required for the execution, delivery and performance by PLIC of the Selling Agent Agreement or the Funding Agreement that has not already been obtained.
If the Funding Agreement was governed by Tennessee law (rather than Delaware law, which is specified as the governing law in the Funding Agreement), the Funding Agreement would, under Tennessee law, constitute a valid and legally binding obligation of PLIC, enforceable against PLIC in accordance with its terms.
The Contract, when properly issued, is a legal and binding obligation of PLIC, enforceable in accordance with its terms and applicable state and federal law.
Phoenix Life Variable Universal Life Account is a separate account validly established and maintained by PLIC in accordance with New York law.