Statutory Liability definition

Statutory Liability means a pecuniary penalty awarded against You in and under any Federal, State or Territory laws of the Commonwealth of Australia for a
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Statutory Liability means pecuniary penalties awarded in and under the laws of the jurisdictions of Australia and New Zealand, against:
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Statutory Liability. The sum of: (i) the Statutory Reserves and (ii) the Separate Account Interest Maintenance Reserve.
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Examples of Statutory Liability in a sentence

  • Subject to the terms and conditions of this Policy, You are covered for Statutory Liability • caused by or arising from an Occurrence; • in the ordinary course of Your Business; • that happens after the relevant Retrospective Inception Date; • the Claim is first made against You during the Period of Insurance, and • We are not legally prohibited from disposing of or settling the Claim.

  • Except in respect of the Employers Liability and the Statutory Liability sections of this policy if there is more than one insured named in the schedule this policy insures the insureds jointly.

  • This exclusion shall not apply where and to the extent that indemnity for any fine is afforded under Section 4 (Statutory Liability).

  • Statutory LiabilityThe Insurer will indemnify the Insured for any loss due to a claim first made against theInsured during the policy period or any discovery period for Statutory Liability.

  • The amount of such insurance shall be as follows: COVERAGE LIMIT AMOUNT Worker’s Compensation Statutory Liability $200,000 S.L. Premises and Operations Contractual (eliminate XCU exclusion) Owners and Contractors Protective Products/Completed Operations Automobile Property Damage $200,000 S.L. Before work on any contract or subcontract can be started, each contractor and subcontractor shall submit to the Village Administrator/Clerk/Treasurer a Certificate of Insurance showing the above coverage and limits.

  • ExclusionsThe Insurer shall not be liable for any loss under Policy Section B – Statutory Liability for:1.

  • Documents: REQUEST FOR COUNCIL ACTION AND ATTACHMENT.PDF 9.B. Approve General Purchases Exceeding $10,000 or Sale of Surplus Items Documents: REQUEST FOR COUNCIL ACTION AND ATTACHMENTS.PDF 9.C. Consider Not Waiving Statutory Liability Limits for 2022 Documents: REQUEST FOR COUNCIL ACTION.PDF 9.D. Approve various Labor Agreements between the City of Roseville and Law Enforcement Labor Services, Inc.

  • The Board of Directors may amend, modify or terminate this Plan at any time.

  • This Automatic Coverage Clause will not apply if the insured has cover under a Statutory Liability Policy.

  • Exclusions‌The Insurer shall not be liable for any loss under Policy Section B – Statutory Liability for:1.


More Definitions of Statutory Liability

Statutory Liability means (notwithstanding Exclusion 3.20 – Seepage, Pollution or Contamination): any pecuniary penalty awarded in and under the laws of the jurisdictions of the Commonwealth of Australia against You for any: 1.28.1 civil offence in connection with the discharge, dispersal, release or escape of a Pollutant; and 1.28.2 strict liability offence in connection with the discharge, dispersal, release or escape of a Pollutant; and 1.28.3 strict liability offence in connection with a breach of any Australian Federal, State or Territory occupational health and safety law or regulation.
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Statutory Liability means pecuniary penalties awarded in and under the laws of the jurisdictions of Australia and New Zealand, against: a) an INSURED PERSON for any civil offence; b) an INSURED PERSON for a strict liability offence in connection with the discharge, dispersal, release or escape of POLLUTANTS; and c) an INSURED for a strict liability offence in connection with a breach of occupational health and safety law or regulation ("OH&S"), if WE are not legally prohibited from paying the pecuniary penalties.
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Statutory Liability means pecuniary penalties awarded under the laws of the jurisdictions of Australia and New Zealand which Underwriters are permitted by law to pay and the Company is permitted by law to insure, awarded against:
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Related to Statutory Liability

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised;

  • Controlled Group Liability means any and all liabilities (i) under Title IV of ERISA, (ii) under Section 302 of ERISA, (iii) under Sections 412 and 4971 of the Code, (iv) as a result of a failure to comply with the continuation coverage requirements of Section 601 et seq. of ERISA and Section 4980B of the Code, and (v) under corresponding or similar provisions of foreign laws or regulations.

  • Contingent Liability means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, obligation or any other liability of any other Person (other than by endorsements of instruments in the course of collection), or guarantees the payment of dividends or other distributions upon the shares of any other Person. The amount of any Person’s obligation under any Contingent Liability shall (subject to any limitation set forth therein) be deemed to be the outstanding principal amount (or maximum outstanding principal amount, if larger) of the debt, obligation or other liability guaranteed thereby.

  • Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.

  • Liability means the obligation to pay a judgment, settlement, penalty, fine (including an excise tax assessed with respect to an employee benefit plan), or reasonable expenses incurred with respect to a proceeding.

  • Product Liability means any liability, claim or expense, including but not limited to attorneys’ fees and medical expenses, arising in whole or in part out of a breach of any express or implied product warranty by the Company, strict liability in tort, negligent manufacture of product, negligent provision of services, product recall, or any other allegation of liability arising from the design, testing, manufacture, packaging, labeling (including instructions for use), or sale of products.

  • Eligible Liabilities and “Special Deposits” have the meanings given to them from time to time under or pursuant to the Bank of England Act 1998 or (as may be appropriate) by the Bank of England;

  • Environmental Liabilities and Costs means all liabilities, monetary obligations, Remedial Actions, losses, damages, punitive damages, consequential damages, treble damages, costs and expenses (including all reasonable fees, disbursements and expenses of counsel, experts, or consultants, and costs of investigation and feasibility studies), fines, penalties, sanctions, and interest incurred as a result of any claim or demand by any Governmental Authority or any third party, and which relate to any Environmental Action.

  • Environmental Liabilities means all liabilities, monetary obligations, losses, damages, costs and expenses (including all reasonable fees, disbursements and expenses of counsel, experts, or consultants, and costs of investigation and feasibility studies), fines, penalties, sanctions, and interest incurred as a result of any claim or demand, or Remedial Action required, by any Governmental Authority or any third party, and which relate to any Environmental Action.

  • Personal liability means personal liability for a debt, liability, or other obligation of an organization which is imposed on a person that co-owns, has an interest in, or is a member of the organization:

  • Related Liability with respect to any Asset means any liability existing and reflected on the Accounting Records of the Failed Bank as of Bank Closing for (i) indebtedness secured by mortgages, deeds of trust, chattel mortgages, security interests or other liens on or affecting such Asset, (ii) ad valorem taxes applicable to such Asset, and (iii) any other obligation determined by the Receiver to be directly related to such Asset.

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.