LD 933
pg. 12
Page 11 of 38 PUBLIC Law Chapter 346 Page 13 of 38
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LR 2060
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of the association, committee, joint board of trustees or
other similar group of representatives of the parties who
establish or maintain the benefit plan, which, in lieu of a
specific or clear designation of a principal place of
business, is deemed to be the principal place of business of
the employer or employee organization that has the largest
investment in the benefit plan in question.

 
18.__Receivership court.__"Receivership court" means the court
in the impaired or insolvent insurer's state having jurisdiction
over the conservation, rehabilitation or liquidation of the
insurer.

 
19.__Resident.__"Resident" means a person to whom a
contractual obligation is owed and who resides in this State on
the date of entry of a court order that determines a member
insurer to be an impaired insurer or a court order that
determines a member insurer to be an insolvent insurer, whichever
occurs first.__A person may be a resident of only one state,
which in the case of a person other than a natural person is its
principal place of business.__Citizens of the United States that
are either residents of foreign countries or residents of United
States possessions, territories or protectorates that do not have
an association similar to the association created by this chapter
are deemed residents of the state of domicile of the insurer that
issued the policies or contracts.

 
20.__Structured settlement annuity.__"Structured settlement
annuity" means an annuity purchased in order to fund periodic
payments for a plaintiff or other claimant in payment for or with
respect to personal injury suffered by the plaintiff or other
claimant.

 
21.__State.__"State" means a state, the District of Columbia,
Puerto Rico or a United States possession, territory or
protectorate.

 
22.__Supplemental contract. "Supplemental contract" means a
written agreement entered into for the distribution of proceeds
under a life, health or annuity policy or contract.

 
23.__Unallocated annuity contract. "Unallocated annuity
contract" means an annuity contract or group annuity certificate
that is not issued to and owned by an individual, except to the
extent of any annuity benefits guaranteed to an individual by an
insurer under the contract or certificate.

 
Sec. 6. 24-A MRSA §§4606, 4607 and 4608, as enacted by PL 1983, c. 846,
are amended to read:


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