Protected cell definition

Protected cell means an identified pool of assets and liabilities of a protected cell company segregated and insulated as provided under this chapter from the remainder of the protected cell company’s assets and liabilities.
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Protected cell means a separate account established and maintained by a sponsored captive insurance company for one participant.
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Protected cell means a separate account established by a sponsored captive insurance company formed or licensed under this [part] article in which assets are maintained for one or more participants in accordance with the terms of one or more participant contracts to fund the liability of the sponsored captive insurance company assumed on behalf of the participants as set forth in the participant contracts.
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Examples of Protected cell in a sentence

  • Protected cell assets are available only to the SPFC10 contract counterparty and other creditors of the SPFC that are creditors only with respect to that11 protected cell and, accordingly, are entitled in conformity with this Part, to have recourse to the12 protected cell assets attributable to that protected cell.

  • Volunteer StaffThis Security / Safety Policy and procedures apply fully to Professional Volunteer staff.

  • Protected cell assets may not be pledged or otherwise encumbered except for the benefit of creditors of that protected cell in furtherance of the securitization in accordance with the approved plan of operation.

  • Protected cell" means a separate account established and maintained by a special purpose reinsurance vehicle for one special purpose reinsurance vehicle contract and the accompanying insurance securitization with a ceding insurer as further provided for in section 784‑A.[PL 2007, c.

  • Protected cell companies.4. Creation of cells.5. Cellular and non-cellular assets.6. Position of creditors to cellular assets.7. Cell shares and share capital.8. Requirements as to the name and memorandum and articles of association of a protected cell company.9. Protected cell companies only to be incorporated with the consent of the Minister.10.


More Definitions of Protected cell

Protected cell means an identified pool of assets and liabilities of a sponsored captive insurance company for one or more participants that is segregated and insulated from the remainder of the sponsored captive insurance company’s assets and liabilities as set forth in this chapter. A protected cell may be unincorporated or incorporated.
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Protected cell means a segregated account established and maintained by an SPFC for 1 or more SPFC contracts that are part of a single securitization transaction as further provided for in chapter 48.
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Protected cell means a separate account established by a protected cell captive insurance
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Protected cell means a separate account established by a
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Protected cell means a separate account established by a sponsored captive insurance company formed or licensed under the provisions of this chapter in which assets are maintained for one or more participants in accordance with the terms of one or more participant contracts to fund the liability of the sponsored captive insurance company assumed on behalf of the participants as set forth in the participant contracts. [PL 2009, c. 335, §23 (NEW).]
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Protected cell means a segregated account established and maintained by a sponsored captive insurance company for 1 participant.
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Protected cell means a separate and distinct account
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