§6764 Definitions

Summary

Defines the main words used in this subchapter. Business entity is a corporation, association, partnership, LLC, LLP, or other legal organization. Depository institution has the meaning given in section 1813 of title 12. Home State is the State where an insurance producer keeps its main home or business and is licensed. Insurance is any product treated as insurance by the State regulator, but not title insurance or bail bonds. Insurance producer is any agent, broker, consultant, limited representative, or other person or company that sells, solicits, negotiates insurance, or gives insurance advice. Insurer has the meaning in section 313(e)(2)(B) of title 31. Principal place of business is the State of the producer’s headquarters or, for a business, where top officers direct and control the company. Principal place of residence is the State where the producer lives the most days in a calendar year. State covers U.S. States, 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 includes any State law, rule, decision, or other State action that has the effect of law, and a U.S. law that applies only in the District of Columbia is treated as a State law.