Model Audit Rule definition

Model Audit Rule means the “Model Regulation Requiring Annual Audited Financial Reports” developed by the NAIC.
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Model Audit Rule means Annual Financial Reporting Model Regulation (otherwise known as the Model Audit Rule or MAR) as adopted by the applicable insurance regulatory authority or state.
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Examples of Model Audit Rule in a sentence

  • The Audit Committee shall review any material weaknesses, significant deficiencies and/or significant solvency concerns at the subsidiary level for the applicable US insurance legal entities as contemplated by the Model Audit Rule (as supplemented by the related Implementation Guide) of the National Association of Insurance Commissioners, as may be applicable from time to time with respect to relevant entities.

  • If an Audit Committee is required under the National Association of Insurance Commissioners’ Model Audit Rule, the Board of Directors by the affirmative vote of a majority of all of the directors then in office may appoint members of the board of directors of the parent holding company, CUNA Mutual Holding Company to serve on the Audit Committee.

  • Additionally, pursuant to the National Association of Insurance Commissioners’ Model Audit Rule, the Audit Committee of CUNA Mutual Holding Company may elect to serve as the Audit Committee of the Corporation upon written notice of such election to the Iowa Insurance Commissioner.

  • Agency Markets shall, and shall cause each of its consolidated Subsidiaries to, as applicable, comply with the Model Audit Rule.

  • If the corporation is required to have its own audit committee under the National Association of Insurance Commissioners’ Model Audit Rule, the Board of Directors by the affirmative vote of a majority of all of the directors then in office may appoint members of the board of directors of the parent holding company, Symetra Financial Corporation, to serve on the audit committee.

  • If an Audit Committee is required under the National Association of Insurance Commissioners’ Model Audit Rule, the Board of Directors by the affirmative vote of a majority of all of theBylaws – CMFG Life Insurance Company Page 3 directors then in office may appoint members of the board of directors of the parent holding company, CUNA Mutual Holding Company, to serve on the Audit Committee.

Related to Model Audit Rule

  • BBA Partnership Audit Rules means Sections 6221 through 6241 of the Code, and any regulations promulgated or proposed under any such Sections and any administrative guidance with respect thereto.

  • Partnership Tax Audit Rules means Sections 6221 through 6241 of the Code, as amended by the Bipartisan Budget Act of 2015, together with any guidance issued thereunder or successor provisions and any similar provision of state or local tax laws.

  • Compliance Audit means the procedure (in a form advised by the GLA from time to time) by which an auditor independent of the Grant Recipient certifies (at the Grant Recipient's cost) whether the Named Projects developed or Rehabilitated pursuant to this Agreement satisfy the GLA's procedural compliance requirements (as described in the Affordable Housing Capital Funding Guide);

  • MERS Procedures Manual The MERS Procedures Manual, as it may be amended, supplemented or otherwise modified from time to time.

  • External Auditor as used here shall mean any registered public accounting firm engaged for the purpose of preparing or issuing an audit report or performing other audit, review or attest services for the Company. Each such external auditor shall report directly to the Committee. With respect to the external auditor, the Committee shall:

  • Procedures Manual means the standards and procedures manual described in Section 11.3.

  • Reconciliation Procedures means those procedures set forth in Section 7.09 of this Agreement.

  • non-audit services means services other than audit services;

  • Internal audit means an independent appraisal activity established within a state agency as a control system to examine and evaluate the adequacy and effectiveness of other internal control systems within the agency.

  • Internal Auditor means the person employed or engaged by the Corporation to perform the internal audit function of the Corporation;

  • Initial Audit is Bank’s inspection of Borrower’s Accounts, the Collateral, and Borrower’s Books, with results satisfactory to Bank in its sole and absolute discretion.

  • PJM Reliability Assurance Agreement means that certain Reliability Assurance Agreement Among Load Serving Entities in the PJM Region, on file with FERC as PJM Interconnection L.L.C. Rate Schedule FERC No. 44, and as amended from time to time thereafter. Schedule of Work:

  • Audit Committee Financial Expert means a person who has the following attributes:

  • Market Rules means the rules made under section 32 of the Electricity Act;

  • Neutral Auditor means Ernst & Young or, if Ernst & Young is unable to serve, an impartial nationally recognized firm of independent certified public accountants other than Seller’s accountants or Purchaser’s accountants, mutually agreed to by Purchaser and Seller.

  • Quality Assurance means a systematic procedure for assessing the effectiveness, efficiency, and appropriateness of services.