Subscriber Savings Accounts Sample Clauses

Subscriber Savings Accounts. PURE will maintain separate individual savings credit for each subscriber, a portion of the savings realized on contracts of insur losses, loss reserves, operating and policy acquisition expenses, and potential policyho into these accounts pro-rata based on each Subscriber’s earned premium. Deposits, following year. The Subscriber understands and agrees that a) any contributions to b results, not the results of any individual Subscriber; and, b)funds held in an SSA are and all of these surplus funds to pay any unsatisfied obligations. As set forth in this Ag from their SSA once the Subscriber is no longer insured by PURE. In order to avoid any impairment to the surplus of PURE, PRM, subject to the approval limit the distribution from the SSA to subscribers whose coverage has been terminate
Sample 1
AutoNDA by SimpleDocs
Subscriber Savings Accounts. PURE will maintain separate individual savings accounts (“SSA”) for each subscriber, and set aside as a credit for each subscriber, a portion of the savings realized on contracts of insurance issued to all subscribers. After accounting for paid losses, loss reserves, operating and policy acquisition expenses, and potential policyholder cash dividends, PURE will deposit the remaining premium into these accounts pro-rata based on each Subscriber’s earned premium. Deposits, if any, will be made annually prior to March 1st of the following year. The Subscriber understands and agrees that a) any contributions to be made to a Subscriber’s SSA are based on PURE’s overall results, not the results of any individual Subscriber; and, b)funds held in an SSA are considered surplus and that PRM is authorized to use any and all of these surplus funds to pay any unsatisfied obligations. As set forth in this Agreement, the Subscriber may be eligible for a distribution from their SSA once the Subscriber is no longer insured by PURE. In order to avoid any impairment to the surplus of PURE, PRM, subject to the approval of the Subscribers’ Advisory Committee, retains the right to limit the distribution from the SSA to subscribers whose coverage has been terminated.
Sample 1

Related to Subscriber Savings Accounts

  • Certain Savings Accounts 1. An account established and maintained in the Slovak Republic that satisfies any of the following:

  • Health Savings Account (HSA) is a tax-exempt trust or custodial account established exclusively for the purpose of paying qualified medical expenses of the member who is covered under a high deductible health plan. The member must be covered under the HSA plan for the months in which contributions are made. HIGH DEDUCTIBLE HEALTH PLAN (HDHP) is a health plan that satisfies certain requirements with respect to deductibles and out-of-pocket expenses. The plan cannot provide payment for any covered healthcare service until the plan year deductible is satisfied, with the exception of preventive care services. HOSPITAL means a facility: • that provides medical and surgical care for patients who have acute illnesses or injuries; and • is either listed as a hospital by the American Hospital Association (AHA) or accredited by the Joint Commission on Accreditation of Healthcare Organizations (JCAHO).

  • Disclosure Statement for Xxxxxxxxx Education Savings Accounts 1. Who is Eligible for a Xxxxxxxxx Education Savings Account? Anyone may contribute to a Xxxxxxxxx Education Savings Account regardless of his or her relationship to the beneficiary. The beneficiary of a Xxxxxxxxx Education Savings Account

  • Non-Retirement Savings Accounts An account maintained in the Cayman Islands (other than an insurance or Annuity Contract) that satisfies the following requirements under the laws of the Cayman Islands.

  • User Accounts End User shall ensure that only Authorized Users can access the Services. User accounts may not be shared among individuals or used to provide access to the Services to individuals who are not the individual associated with the corresponding user account.

  • Client Accounts 17.1 It is agreed and understood that the types of the different Client Accounts offered by the Company and the characteristics of such Client Accounts are found on the Website and are subject to change at the Company’s discretion and according to paragraph 43 hereunder.

  • How Are Contributions to a Xxxxxxxxx Education Savings Account Reported for Federal Tax Purposes? Contributions to a Xxxxxxxxx Education Savings Account are reported on IRS Form 5498-ESA.

  • Linked Accounts All accounts with the Bank that you enroll in a service will be linked by the tax identification numbers of the persons authorized to access the account. The linked accounts will appear together without regard to the ownership of the accounts. For example, if an authorized user of a linked account accesses the Service, that authorized user will be able to view and access at a single time the following accounts: • the accounts of the business for which that person is an authorized user; • the accounts of any other business for which that person is an authorized user; and • any consumer accounts for which the person is a co-owner or authorized signer.

  • Separate Accounts The trustee shall maintain within the trust fund a separate account for each Agricultural Contractor that signs the trust agreement to hold deposits made pursuant to this article.

  • How Are Distributions from a Xxxxxxxxx Education Savings Account Taxed For Federal Income Tax Purposes? Amounts distributed are generally excludable from gross income if they do not exceed the beneficiary’s “qualified higher education expenses” for the year or are rolled over to another Xxxxxxxxx Education Savings Account according to the requirements of Section (4). “Qualified higher education expenses” generally include the cost of tuition, fees, books, supplies, and equipment for enrollment at (i) accredited post-secondary educational institutions offering credit toward a bachelor’s degree, an associate’s degree, a graduate-level or professional degree or another recognized post-secondary credential and (ii) certain vocational schools. In addition, room and board may be covered if the beneficiary is at least a “half-time” student. This amount may be reduced or eliminated by certain scholarships, qualified state tuition programs, HOPE, Lifetime Learning tax credits, proceeds of certain savings bonds, and other amounts paid on the beneficiary’s behalf as well as by any other deductions or credits taken for the same expenses. The definition of “qualified education expenses” includes expenses more frequently and directly related to elementary and secondary school education, including the purchase of computer technology or equipment or Internet access and related services. To the extent payments during the year exceed such amounts, they are partially taxable and partially non-taxable similar to payments received from an annuity. Any taxable portion of a distribution is generally subject to a 10% penalty tax in addition to income tax unless the distribution is (i) due to the death or disability of the beneficiary, (ii) made on account of a scholarship received by the beneficiary, or (iii) is made in a year in which the beneficiary elects the HOPE or Lifetime Learning credit and waives the exclusion from income of the Xxxxxxxxx Education Savings Account distribution. You may be allowed to take both the HOPE or Lifetime Learning credits while simultaneously taking distributions from Xxxxxxxxx Education Savings Accounts. However, you cannot claim a credit for the same educational expenses paid for through Xxxxxxxxx Education Savings Account distributions. To the extent a distribution is taxable, capital gains treatment does not apply to amounts distributed from the account. Similarly, the special five- and ten-year averaging rules for lump-sum distributions do not apply to distributions from a Xxxxxxxxx Education Savings Account. The taxable portion of any distribution is taxed as ordinary income. The IRS does not require withholding on distributions from Xxxxxxxxx Education Savings Accounts.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!