Formal delinquency proceeding definition

Formal delinquency proceeding means a rehabilitation or liquidation proceeding.
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Formal delinquency proceeding means any conservation, rehabilitation or liquidation proceeding.
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Formal delinquency proceeding means any
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Examples of Formal delinquency proceeding in a sentence

  • Formal delinquency proceeding" means any Formal delinquency proceeding.


More Definitions of Formal delinquency proceeding

Formal delinquency proceeding means any conservation, rehabilitation or liquidation proceeding; provided, however, that the term “formal delinquency proceeding” shall not include a supervision under § 5942 of this title.
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Formal delinquency proceeding means any rehabilitation or liquidation proceeding.
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Formal delinquency proceeding means a delinquency proceeding, except that such term shall not include a supervision under K.S.A. 40-3613, and amendments thereto.
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Formal delinquency proceeding means a delinquency proceeding, except that such term shall not include a supervision
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Formal delinquency proceeding means a rehabilitation or liquidation 2047 proceeding. 2048 (17) "Forward contract" is as defined in the Federal Deposit Insurance Act, 12 U.S.C. 2049 Sec. 1821(e)(8)(D). 2050 (18) (a) "General assets" include all property of the estate that is not: 2051 (i) subject to a properly perfected secured claim; 2052 (ii) subject to a valid and existing express trust for the security or benefit of a specified 2053 person or class of person; or 2054 (iii) required by the insurance laws of this state or any other state to be held for the 2055 benefit of a specified person or class of person. 2056 (b) "General assets" include all property of the estate or its proceeds in excess of the 2057 amount necessary to discharge a claim described in Subsection (18)(a). 2058 (19) "Good faith" means honesty in fact and intention, and in regard to Part 5, Asset 2059 Recovery, also requires the absence of: 2060 (a) information that would lead a reasonable person in the same position to know that 2061 the insurer is financially impaired or insolvent; and 2062 (b) knowledge regarding the imminence or pendency of a delinquency proceeding 2063 against the insurer. 2064 (20) "Guaranty association" means: 2065 (a) a mechanism mandated by Chapter 28, Guaranty Associations; or 2066 (b) a similar mechanism in another state that is created for the payment of claims or 2067 continuation of policy obligations of a financially impaired or insolvent insurer. 2068 (21) "Impaired" means that an insurer: 2069 (a) does not have admitted assets at least equal to the sum of: 2070 (i) all its liabilities; and 2071 (ii) the minimum surplus required to be maintained by Section 31A-5-211 or 2072 31A-8-209; or 2073 (b) has a total adjusted capital that is less than its authorized control level RBC, as
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Related to Formal delinquency proceeding

  • Delinquency proceeding means a proceeding instituted against an insurer for the purpose of liquidating, rehabilitating, reorganizing or conserving the insurer, and a summary proceeding under section 507C.9 or 507C.10. “Formal delinquency proceeding” means any liquidation or rehabilitation proceeding.

  • Insolvency Proceeding means any proceeding under Title 11 of the United States Code (11 U.S.C. Sec. 101 et seq.) or any other insolvency, liquidation, reorganization or other similar proceeding concerning the Mortgage Loan Borrower, any action for the dissolution of the Mortgage Loan Borrower, any proceeding (judicial or otherwise) concerning the application of the assets of the Mortgage Loan Borrower for the benefit of its creditors, the appointment of or any proceeding seeking the appointment of a trustee, receiver or other similar custodian for all or any substantial part of the assets of the Mortgage Loan Borrower or any other action concerning the adjustment of the debts of the Mortgage Loan Borrower, the cessation of business by the Mortgage Loan Borrower, except following a sale, transfer or other disposition of all or substantially all of the assets of the Mortgage Loan Borrower in a transaction permitted under the Mortgage Loan Documents; provided, however, that following any such permitted transaction affecting the title to the Mortgaged Property, the Mortgage Loan Borrower for purposes of this Agreement shall be defined to mean the successor owner of the Mortgaged Property from time to time as may be permitted pursuant to the Mortgage Loan Documents; provided, further, however, that for the purposes of this definition, in the event that more than one entity comprises the Mortgage Loan Borrower, the term “Mortgage Loan Borrower” shall refer to any such entity.

  • Bankruptcy Proceeding means any bankruptcy, reorganization, insolvency, composition, restructuring, dissolution, liquidation, receivership, assignment for the benefit of creditors, or custodianship action or proceeding under any federal or state law with respect to Borrower, any guarantor of any of the Senior Indebtedness, any of their respective properties, or any of their respective partners, members, officers, directors, or shareholders.

  • Insolvency Proceedings means bankruptcy, liquidation or other collective judicial or administrative proceedings, including interim proceedings, in which the assets and affairs of the debtor are subject to control or supervision by a court for the purposes of reorganisation or liquidation;

  • Testacy proceeding means a proceeding to establish a will or determine intestacy.

  • Bankruptcy Proceedings has the meaning set forth in clause (b) of paragraph 9 hereof.

  • Disciplinary proceeding means an adjudicative proceeding permitted under this

  • Contested case hearing means a hearing under chapter 4 of the administrative procedures act of 1969, MCL 24.271 to 24.287, as authorized under chapter 5 of the administrative procedures act of 1969, MCL 24.291 to 24.292.

  • Insolvency or Liquidation Proceeding means, with respect to any Person, any liquidation, dissolution or winding up of such Person, or any bankruptcy, reorganization, insolvency, receivership or similar proceeding with respect to such Person, whether voluntary or involuntary.

  • Delinquency Rate With respect to any calendar month, the fraction, expressed as a percentage, the numerator of which is the aggregate outstanding principal balance of all Mortgage Loans 60 days Delinquent or more (including all foreclosures, bankruptcies and REO Properties) as of the close of business on the last day of such month, and the denominator of which is the Pool Balance as of the close of business on the last day of such month.

  • CCAA Proceedings means the proceedings commenced by the Applicant under the CCAA as contemplated by the Initial Order;

  • Petition means a written request to the court for an order after notice.