Financed purchase means the purchase of a new policy involving the actual or intended use of funds obtained by the with- drawal or surrender of, or by borrowing from values of an existing policy to pay all or part of any premium due on the new policy. For purposes of a regulatory review of an individual transaction only, if a withdrawal, surrender or borrowing involving the policy values of an existing policy is used to pay premiums on a new pol- icy owned by the same policyholder and issued by the same insurer within 4 months before or 13 months after the effective date of the new policy, it will be deemed prima facie evidence of the policyholder’s intent to finance the purchase of the new policy with existing policy values. This prima facie standard is not intended to increase or decrease the monitoring obligations con- tained in sub. (5) (a).
Financed purchase means the pur- chase of a new policy or contract involving the actual or intended use of funds obtained by the withdrawal or surrender of, or by bor- rowing from values of an existing policy or contract to pay all or part of any premium due on the new policy or contract. For purposes of a regulatory review of an individual trans- action only, if a withdrawal, surrender, or borrowing involving the policy or contract values of an existing policy or contract is used to pay premiums on a new policy or contract owned by the same policyholder and issued by the same company within four (4) months before or thirteen (13) months after the effec- tive date of the new policy or contract, it will be deemed prima facie evidence of the poli- cyholder’s intent to finance the purchase of the new policy or contract with existing poli- cy or contract values. This prima facie stan- dard is not intended to increase or decrease the monitoring obligations contained in para- graph (4)(A)5. of this rule.
Financed purchase means the purchase of a new policy involving the actual use of funds ob- tained by the withdrawal or surrender of, or by borrowing from, values of an existing policy to pay all or part of any premium due on a new policy issued by the same insurer. If a request for withdrawal, sur- render, or borrowing involving the policy values of an existing policy is accompanied by direction to pay premiums on a new policy owned by the same policyholder within 13 months before or after the effective date of the new policy and is known by the insurer, it will be deemed prima facie evidence of a financed purchase.
Examples of Financed purchase in a sentence
Financed purchase" means the purchase of a new policy involving the actual or intended use of funds obtained by the withdrawal or surrender of, or by borrowing from values of an existing policy to pay all or part of any premium due on the new policy.
In 2002 (twelve years), she would be making what an assistant doctrinal professor was making in 1990.
Closing Date: _ Financed Purchases *Must complete Financing Instructions in Section 7 🞎 Financed purchase with a down payment of $ and I authorized Directed IRA to sign a Promissory Note and Deed of Trust/Mortgage.
Financed purchase agreements use non-appropriation clauses to avoid being classified as long-term debt, which might be subject to State legal restrictions.
Closing Date: _ Financed Purchases *Must complete Financing Instructions in Section 7 Financed purchase with a cash payment of $ _.
More Definitions of Financed purchase
Financed purchase means the purchase of a new policy involving the actual or intended use of funds obtained by the withdrawal or surrender of, or by borrowing from values of an existing policy to pay all or part of any premium due
Financed purchase means the purchase of a new policy that involves the actual or intended use of funds to pay all or part of any premium due on the new policy obtained by:
Financed purchase means the purchase of a new insurance policy, certificate, or annuity contract involving the actual or intended use of funds obtained by the withdrawal or surrender of, or by borrowing from, values of an existing policy, certificate, or annuity contract to pay all or part of any premium due on the new policy, certificate, or annuity contract. “Financed purchase” within the meaning of this rule does not constitute an extension of consumer credit for purposes of state or federal law.
Financed purchase means the purchase of a new policy involving the actual or intended use of funds obtained by the withdrawal or surrender of, or by borrowing from values of an existing policy to pay all or part of any premium due on the new policy…” If a withdrawal, surrender or borrowing involving the policy values of an existing policy is used to pay premiums on a new policy owned by the same policyholder and issued by the same company within four (4) months before or thirteen (13) months after the effective date of the new policy, it will be a financed purchase. Know the “Financed Purchase” Timing 4 Months Prior Purchase Date 13 Months After January 6, 2021 May 6, 2021 June 6, 2022 • Unless specifically included, the regulation shall not apply to transactions involving: • Credit life• Group life/annuity (if no direct solicitation by producers)• Group life/annuity contracts to fund prearrangedfuneral contracts• Policy/contract conversion (with same insurer).• Proposed coverage to replace life insurance under a binding or conditional receipt issued by the same company• Life insurance if the cost is borne wholly by the insured employer or by an association the insured is a member of• Policies/contracts to fund an employee pension or welfare plan under ERISA and certain plans maintained by an employer (excludes certain plans when solely funded by the employee)• Immediate annuities when proceeds from a deferred product are the source of funding• Structured settlements Application of the Scope:
Financed purchase means the financing arrangement in respect of theAgreement” purchase of the Goods entered into by the Customer andthe Supplier or a third party financer and included at Annex A of Call Off Schedule 2;
Financed purchase means the pur- chase of a new policy or contract involving the actual or intended use of funds obtained by the withdrawal or surrender of, or by bor- rowing from values of an existing policy or contract to pay all or part of any premium due on the new policy or contract. For purposes of a regulatory review of an individual trans- action only, if a withdrawal, surrender, or borrowing involving the policy or contract
Financed purchase means the purchase of a new life insurance policy involving the actual or intended use of funds obtained by the withdrawal, surrender, or borrowing from values of an existing life insurance policy to pay all or part of a premium due on the new life insurance policy.