376.718. Definitions.
Definitions.
376.718. As used in sections 376.715 to 376.758, the following termsshall mean:
(1) "Account", any of the four accounts created under section 376.720;
(2) "Annuity or annuity contract", any annuity contract or group annuitycertificate which is issued to and owned by an individual. This definition of"annuity or annuity contract" does not include any form of unallocated annuitycontract;
(3) "Association", the Missouri life and health insurance guarantyassociation created under section 376.720;
(4) "Contractual obligation", any obligation under a policy or contractor certificate under a group policy or contract, or portion thereof for whichcoverage is provided under the provisions of section 376.717;
(5) "Covered policy", any policy or contract within the scope ofsections 376.715 to 376.758 under the provisions of section 376.717;
(6) "Director", the director of the department of insurance, financialinstitutions and professional registration of this state;
(7) "Impaired insurer", a member insurer which, after August 13, 1988,is not an insolvent insurer, and is deemed by the director to be potentiallyunable to fulfill its contractual obligations, or is placed under an order ofrehabilitation or conservation by a court of competent jurisdiction;
(8) "Insolvent insurer", a member insurer which, after August 13, 1988,is placed under an order of liquidation by a court of competent jurisdictionwith a finding of insolvency;
(9) "Member insurer", any insurer or health services corporationlicensed or which holds a certificate of authority to transact in this stateany kind of insurance for which coverage is provided under section 376.717,and includes any insurer whose license or certificate of authority in thisstate may have been suspended, revoked, not renewed or voluntarily withdrawn,but does not include:
(a) A health maintenance organization;
(b) A fraternal benefit society;
(c) A mandatory state pooling plan;
(d) A mutual assessment company or any entity that operates on anassessment basis;
(e) An insurance exchange; or
(f) Any entity similar to any of the entities listed in paragraphs (a)to (e) of this subdivision;
(10) "Moody's Corporate Bond Yield Average", the monthly averagecorporates as published by Moody's Investors Service, Inc., or any successorthereto;
(11) "Person", any individual, corporation, partnership, association orvoluntary organization;
(12) "Premiums", amounts received on covered policies or contracts, lesspremiums, considerations and deposits returned thereon, and less dividends andexperience credits thereon. The term does not include any amounts receivedfor any policies or contracts or for the portions of any policies or contractsfor which coverage is not provided under subsection 3 of section 376.717,except that assessable premium shall not be reduced on account of subdivision(3) of subsection 3 of section 376.717 relating to interest limitations andsubdivision (2) of subsection 4 of section 376.717 relating to limitationswith respect to any one life and any one contract holder;
(13) "Resident", any person who resides in this state at the time amember insurer is determined to be an impaired or insolvent insurer and towhom a contractual obligation is owed. A person may be a resident of only onestate, which in the case of a person other than a natural person shall be itsprincipal place of business;
(14) "Supplemental contract", any agreement entered into for thedistribution of policy or contract proceeds;
(15) "Unallocated annuity contract", any annuity contract or groupannuity certificate which is not issued to and owned by an individual, exceptto the extent of any annuity guaranteed to an individual by an insurer undersuch contract or certificate.
(L. 1988 S.B. 430 § 4)