Trusteed assets definition
Trusteed assets means the assets of an alien insurer and U.S. branch domiciled in this state and maintained in trust pursuant to section 411(4).
Trusteed assets means the assets in a trust account which the Commissioner requires be established and maintained by an alien insurance company.
Trusteed assets means, collectively, all cash and securities as defined in Sections 910 and 912 of the Michigan Insurance Code, being MCL 500.910; MSA 24.1910 and MCL 500.912; MSA 24.1912 at the lower of their cost or market value in accordance with generally accepted accounting procedures and all proceeds, income, earnings, dividends or interest accumulations with respect to such cash and securities held by the Trustee pursuant to the provisions hereof.
Examples of Trusteed assets in a sentence
The aim of this contract is to transcribe policy into practice and to secure a consensus of understanding and a uniformity of practice in specific regulations.
More Definitions of Trusteed assets
Trusteed assets means the assets in a trust account established pursuant to section 18 of this act;
Trusteed assets means the assets in a trust account established pursuant to section 38a-58d;