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The NAIC internal designation for the Annual Financial Reporting Model Regulation is MDL 205, where MDL stands for Model, and the number of the model rule is 205. [4] Because the regulation was issued by NAIC, which is not a federal agency with direct regulatory power, its adoption is on a state-by-state basis. [5]
NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. NAIC members, together with the central resources of the NAIC, form the national system of state-based insurance regulation in the U.S. The NAIC is an Internal Revenue Code Section 501(c)(3) non-profit organization.
The National Association of Insurance Commissioners ("NAIC") and state regulators drafted a competing agreement called NIMA. NIMA was an agreement, not a compact, and was limited to the reporting, payment, collection, and allocation of premium taxes for nonadmitted insurance. [19]
Uniform Premarital Agreement Act: 1983 Uniform Pretrial Detention Act: 1989 Uniform Principal and Income Act: 1997, 2001 Uniform Probate Code: 1969, 1975, 1982, 1987, 1989, 1990, 1991, 1997 Uniform Probate Code Vi: 1989, 1998 Uniform Prudent Investor Act: 1994 Uniform Punitive Damages Act: 1996 Uniform Putative and Unknown Fathers Act: 1988
In response to the disruption, the National Association of Insurance Commissioners (“NAIC”) adopted several model reforms for state insurance regulation, including risk-based capital requirements, financial regulation accreditation standards, [17] guaranty associations and an initiative to codify accounting principles into the modern ...
The insurance policy is generally an integrated contract, meaning that it includes all forms associated with the agreement between the insured and insurer. [2]: 10 In some cases, however, supplementary writings such as letters sent after the final agreement can make the insurance policy a non-integrated contract.
On average, it costs under $2,800 to adopt a child from foster care. Independent adoption through an attorney costs between $25,000 and $45,000. These estimates include fees for home study, the ...
A guaranteed investment contract (GIC) is a contract that guarantees repayment of principal and a fixed or floating interest rate for a predetermined period of time. Guaranteed investment contracts are typically issued by life insurance companies qualified for favorable tax status under the Internal Revenue Code (for example, 401(k) plans).