Regulation of Insurance Companies and the Role of the National Association of Insurance Commissioners: Hearing Before the Subcommittee on Policy Research and Insurance of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred Second Congress, First Session, July 29, 1991, Volumen4U.S. Government Printing Office, 1991 - 291 páginas |
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Términos y frases comunes
accreditation action adopted Alabama alien insurer assessment paid assets assuming insurer authority banks BEN ERDREICH cash ceding insurer Chairman ERDREICH claimants compensation consumers COVERED Credit for Reinsurance creditors database death benefits direct insurance domiciliary liquidator effective examination filing financial institutions financial ratios Financial Regulation Standards financial statements guaranty fund Holding Company insert proper court insolvency Insurance Commissioners insurance companies insurance departments insurance guaranty fund insurance industry insurance regulation insurer's investment KANJORSKI kinds of direct legislation letter of credit liability licensed lien Managing General Agent MCCARTNEY Mike Weaver Model Act model laws Mortgage Guaranty NAIC model NAIC standard coverage NAIC's obligation Ocean Marine insurance payment Pennsylvania person petition policyholders problems recorder of deeds regulatory Rehabilitation and Liquidation reinsurance agreement reports requirements setoffs solvency regulation Subsection supplemental contracts Surety transactions transfer troubled companies troubled insurers trust agreement unallocated annuity WC claim
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Página 76 - Except with the written consent of the Corporation, no person shall serve as a director, officer, or employee of an insured bank who has been convicted, or who is hereafter convicted, of any criminal offense involving dishonesty or a breach of trust.
Página 241 - As domiciliary receiver the commissioner shall be vested by operation of law with the title to all of the property, contracts, and rights of action, and all of the books and records of the insurer...
Página 251 - ... (2) If any lien deemed null and void under the provisions of paragraph (1) of this subdivision a, has been dissolved by the furnishing of a bond or other obligation, the surety on which has been indemnified directly or indirectly by the transfer of or the creation of a lien upon any of the nonexempt property of...
Página 238 - The filing or recording of such order in any record office of the state shall impart the same notice that a deed, bill of sale or other evidence of title duly filed or recorded by such corporation would have imparted.
Página 242 - ... Commissioner shall be vested by operation of law with the title to all of the property, contracts, and rights of action and all of the books and records of the insurer, wherever located, as of the date of entry of the order directing him to rehabilitate or liquidate a domestic insurer or to liquidate the United States branch of an alien insurer domiciled in this state, and he shall have the right to recover the same and reduce the same to possession; except that ancillary receivers in reciprocal...
Página 250 - ... b. Any such preference may be avoided by the trustee if the creditor receiving it or to be benefited thereby or his agent acting with reference thereto has, at the time when the transfer is made, reasonable cause to believe that the debtor is insolvent.
Página 261 - Debts owing to the United States, a State, a county, a district, or a municipality as a penalty or forfeiture shall not be allowed, except for the amount of the pecuniary loss sustained by the act, transaction, or proceeding out of which the penalty or forfeiture arose, with reasonable and actual costs occasioned thereby and such interest as may have accrued thereon according to law.
Página 232 - Special Deposit Claim" means any claim secured by a deposit made pursuant to statute for the security or benefit of a limited class or classes of persons, but not including any general assets. (11) "Secured Claim...
Página 251 - If a creditor has been preferred, and afterwards in good faith gives the debtor further credit without security of any kind for property which becomes a part of the debtor's...
Página 243 - ... seal, special deputy commissioners, as his agents, and to employ such clerks and assistants and to give to each of them such power as may by him be deemed necessary. The compensation of special deputy commissioners, clerks and assistants appointed to carry out the provisions of this article, and all expenses of taking possession of, conserving, conducting, liquidating, disposing of or otherwise dealing with the business and property of such person under this article, shall be fixed by the commissioner,...