§6764 Definitions

Summary

Gives plain meanings for important words used in this part. Business entity means a legal company such as a corporation, association, partnership, LLC, LLP, or similar entity. Depository institution means the same as in section 1813 of title 12. Home State means the State where an insurance producer has their main home or main business and is licensed there. Insurance means products treated as insurance by the State regulator, except title insurance and bail bonds. Insurance producer means people or firms that sell, solicit, negotiate, or advise about insurance (for example, agents, brokers, consultants, and limited reps). Insurer means the same as in section 313(e)(2)(B) of title 31. Principal place of business means the State where the producer’s headquarters are, or where a company’s top officers direct and run the business. Principal place of residence means the State where the producer lives the most days in a year. State includes any State, the District of Columbia, and U.S. territories, including Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands. State law means any State law, rule, decision, or action with the force of law, and a U.S. law that applies only in the District of Columbia counts as a State law.