Definitions

For purposes of this chapter, the term: (1) “Domestication” means the reorganization under this chapter of the United States branch of a Non-U.S. insurer whereby a domestic or foreign insurer acquires all the business and assets and assumes all the liabilities of the branch. (2) “Domestic insurer” means a stock insurance company incorporated under the laws of the District of Columbia. (3) “Foreign insurer” means a stock insurance company incorporated under the laws of any other state of the United States. (4) “Non-U.S. insurer” means a stock insurance company organized under the laws of a foreign country. (5) “United States branch” means the business unit through which business is transacted within the United States by a Non-U.S. insurer and the assets and liabilities of the insurer within the United States pertaining to such business.