CIFG NA definition

CIFG NA means CIFG Assurance North America, Inc. and its successors and permitted assigns.
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Examples of CIFG NA in a sentence

  • Under New York State insurance law, CIFG NA may pay a dividend only from earned surplus subject to the maintenance of a minimum capital requirement.

  • Although the shares are legally owned by the voting trustees in accordance with the Voting Trust Agreement, CIFG Services retains the economic benefits of the shares of CIFG NA.

  • Accordingly, the estimates presented are not necessarily indicative of the amount CIFG NA could realize in a current market exchange.

  • Specifically, CIFG NA has issued contracts in respect of certain obligations of multiple distinct New York State business trusts, collectively known as the New Generation Funding Trusts.

  • CIFG NA is subject to the insurance regulatory requirements of the State of New York and the other jurisdictions in which it is licensed to conduct business.

  • The financial statements of CIFG NA are consolidated because CIFG Services retains all of the beneficial interest in the shares of CIFG NA.

  • Any dividends declared or paid may not exceed, together with all other dividends declared or distributed by CIFG NA during the next preceding twelve months, the lesser of (i) 10% of its shareholder’s surplus shown on its last filed statement, or (ii) one hundred percent of adjusted net investment income (as defined under New York Insurance Law), for such 12-month period without prior approval of the Superintendent of the NYSID.

  • CIFG Guaranty, established in 2001, is a financial guaranty reinsurance company domiciled in France that provides reinsurance solely to CIFG Europe and CIFG NA.

  • These differences have no impact on the net income and the determination of statutory surplus of CIFG NA.

  • Effective September 20, 2003, CIFG NA's original direct parent, CIFG Services, transferred all of the outstanding shares of CIFG NA to five voting trustees in accordance with a voting trust agreement, dated September 17, 2003, in order to comply with certain U.S. state restrictions regarding the ownership or control of U.S. insurance companies by a foreign government or any agency or instrumentality thereof.

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  • International air transportation means transportation by air between a place in the United States and a place outside the United States or between two places both of which are outside the United States.

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  • MFIPPA means the Municipal Freedom of Information and Protection of Privacy Act.

  • renewable energy sources means renewable sources such as small hydro, wind, solar including its integration with combined cycle, biomass, bio fuel cogeneration, urban or municipal waste and other such sources as approved by the MNRE;

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