As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[2001, c. 72, §13(AMD).]
[2001, c. 72, §13(AMD).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
For purposes of this definition, "market value" or the "net sum payable" is determined at the end of the most recent quarter of the insurer's fiscal year and must be reduced by the market value of acceptable collateral held by the insurer or a custodian on the insurer's behalf.
[1999, c. 715, §8(NEW).]
For purposes of this definition, "derivative instrument" includes options, warrants not attached to another financial instrument purchased by the insurer, caps, floors, collars, swaps, forwards, futures and any other substantially similar agreements, options or instruments, or any series or combinations of those agreements, options or instruments. "Derivative instrument" does not include collateralized mortgage obligations, other asset-backed securities, principal-protected structured securities, floating rate securities or instruments in which an insurer is otherwise authorized to invest or that an insurer is otherwise authorized to receive under this chapter other than under section 1153, subsection 4, and any debt obligations of the insurer.
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
For purposes of this subsection, "shell business entity" means a business entity having no economic substance, except as a vehicle for owning interests in assets issued, owned or previously owned by a person domiciled in a foreign jurisdiction; "qualified guarantor" means a guarantor against which an insurer has a direct claim for full and timely payment, evidenced by a contractual right for which an enforcement action can be brought in a domestic jurisdiction; and "qualified primary credit source" means the credit source to which an insurer looks for payment as to an investment and against which an insurer has a direct claim for full and timely payment, evidenced by a contractual right for which an enforcement action can be brought in a domestic jurisdiction.
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[2021, c. 16, §11(AMD).]
[2021, c. 16, §12(AMD).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
[1999, c. 715, §8(NEW).]
24-A M.R.S. § 1151-A