Terms Used In Delaware Code > Title 5 > Chapter 16 > Subchapter II - Formation of a Savings Bank

• Account: means either of the 2 accounts created under § 4406 of this title. See Delaware Code Title 18 Sec. 4405
• Administrator: means the Insurance Coverage Administrator, hereinafter established by § 6505 of this title. See Delaware Code Title 18 Sec. 6501
• adult person: means a person of the age of 18 years or older. See Delaware Code Title 1 Sec. 302
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Affiliate: means a person who directly or indirectly, through 1 or more intermediaries, controls, is controlled by or is under common control with an insolvent insurer on December 31 of the year next preceding the date the insurer becomes an insolvent insurer. See Delaware Code Title 18 Sec. 4205
• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Association: means the Delaware Insurance Guaranty Association created under § 4206 of this title. See Delaware Code Title 18 Sec. 4205
• Association: means the Delaware Life and Health Insurance Guaranty Association created under § 4406 of this title. See Delaware Code Title 18 Sec. 4405
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• authorized: when used in the context of assessments, means a resolution by the board of directors has been passed whereby an assessment will be called immediately or in the future from member insurers for a specified amount. See Delaware Code Title 18 Sec. 4405
• Authorized Control Level RBC: means the number determined under the risk-based capital formula in accordance with the RBC Instructions;

  d. See Delaware Code Title 18 Sec. 5801

• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Benefit contract: shall mean the agreement for provision of benefits authorized by § 6216 of this title, as that agreement is described in § 6219(a) of this title. See Delaware Code Title 18 Sec. 6204
• Benefit member: shall mean an adult member who is designated by the laws or rules of the society to be a benefit member under a benefit contract. See Delaware Code Title 18 Sec. 6204
• Benefit plan: means a specific employee, union or association of natural persons benefit plan. See Delaware Code Title 18 Sec. 4405
• Bona fide association: means , with respect to health insurance coverage offered in Delaware, an association which:

  a. See Delaware Code Title 18 Sec. 3602

• called: when used in the context of assessments, means that a notice has been issued by the Association to member insurers requiring that an authorized assessment be paid within the time frame set forth within the notice. See Delaware Code Title 18 Sec. 4405
• Carrier: means an entity subject to the insurance laws and regulations of this State, or subject to the jurisdiction of the Commissioner, that contracts or offers to contract to provide, deliver, arrange for, pay for or reimburse any of the costs of health-care services, including a sickness and accident insurance company, a health maintenance organization, a nonprofit hospital and health service corporation or any other entity providing a plan of health insurance, health benefits or health services. See Delaware Code Title 18 Sec. 3602
• Case law: The law as laid down in cases that have been decided in the decisions of the courts.
• Certificate: shall mean the document issued as written evidence of the benefit contract. See Delaware Code Title 18 Sec. 6204
• Certified mail: as used in this chapter shall refer to the following as used by the postal service:

  a. See Delaware Code Title 18 Sec. 3903

• Chambers: A judge's office.
• Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
• Child: means a person who has not reached the age of 18 years. See Delaware Code Title 1 Sec. 302
• Church plan: has the meaning given such term under § 3(33) of the Employee Retirement Income Security Act of 1974 [29 U. See Delaware Code Title 18 Sec. 3602
• Claimant: means any insured making a first-party claim or any person instituting a liability claim; provided that no person who is an affiliate of an insolvent insurer may be a claimant. See Delaware Code Title 18 Sec. 4205
• Commissioner: means the insurance supervisory authority of the State;

  (2) "Consumer credit insurance" is a general term used in this chapter to refer to any or all of credit life insurance credit accident and health insurance or any other insurance specifically defined in this chapter;

  (3) "Credit accident and health insurance" means insurance on a debtor or debtors to provide indemnity for payments or debt becoming due on a specific loan or other credit transaction while the debtor is disabled as defined in the policy;

  (4) "Credit life insurance" means insurance on a debtor or debtors, pursuant to or in connection with a specific loan or other credit transaction, to provide for satisfaction of a debt, in whole or in part, upon the death of an insured debtor;

  (5) "Credit transaction" means any transaction by the terms of which the repayment of money loaned or loan commitment made or payment for goods, services or properties sold or leased is to be made at a future date or dates;

  (6) "Creditor" means the lender of money or vendor or lessor of goods, services or property, rights or privileges for which payment is arranged through a credit transaction or any successor to the right, title or interest of any such lender, vendor or lessor and an affiliate, associate or subsidiary of any of them or any director, officer or employee of any of them or any other person in any way associated with any of them;

  (7) "Debtor" means a borrower of money or a purchaser or lessee of goods, services, property, rights or privileges for which payment is arranged through a credit transaction;

  (8) "Gross debt" means the sum of the remaining payments owed to the creditor by the debtor;

  (9) "Identifiable charge" means a charge for a type of consumer credit insurance that is made to debtors having such insurance and not made to debtors not having such insurance; it includes a charge for insurance that is disclosed in the credit or other instrument furnished to the debtor which sets out the financial elements of the credit transaction and any difference in the finance, interest, service or other similar charge made to debtors who are in like circumstances except for the insured or noninsured status of the debtor or of the property used as security for the credit transaction; and

  (10) "Open-end credit" means credit extended by a creditor under an agreement in which:

  a. See Delaware Code Title 18 Sec. 3702

• Commissioner: means the Commissioner of Insurance of this State. See Delaware Code Title 18 Sec. 4205
• Commissioner: means the Commissioner of Insurance of this State. See Delaware Code Title 18 Sec. 4405
• Commissioner: shall mean the Commissioner of Insurance of this State. See Delaware Code Title 18 Sec. 6204
• Committee: means the Insurance Coverage Determination Committee, hereinafter established by § 6502 of this title. See Delaware Code Title 18 Sec. 6501
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Company Action Level RBC: means , with respect to any insurer, the product of 2. See Delaware Code Title 18 Sec. 5801
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Consumer credit insurance: is a general term used in this chapter to refer to any or all of credit life insurance credit accident and health insurance or any other insurance specifically defined in this chapter;

  (3) "Credit accident and health insurance" means insurance on a debtor or debtors to provide indemnity for payments or debt becoming due on a specific loan or other credit transaction while the debtor is disabled as defined in the policy;

  (4) "Credit life insurance" means insurance on a debtor or debtors, pursuant to or in connection with a specific loan or other credit transaction, to provide for satisfaction of a debt, in whole or in part, upon the death of an insured debtor;

  (5) "Credit transaction" means any transaction by the terms of which the repayment of money loaned or loan commitment made or payment for goods, services or properties sold or leased is to be made at a future date or dates;

  (6) "Creditor" means the lender of money or vendor or lessor of goods, services or property, rights or privileges for which payment is arranged through a credit transaction or any successor to the right, title or interest of any such lender, vendor or lessor and an affiliate, associate or subsidiary of any of them or any director, officer or employee of any of them or any other person in any way associated with any of them;

  (7) "Debtor" means a borrower of money or a purchaser or lessee of goods, services, property, rights or privileges for which payment is arranged through a credit transaction;

  (8) "Gross debt" means the sum of the remaining payments owed to the creditor by the debtor;

  (9) "Identifiable charge" means a charge for a type of consumer credit insurance that is made to debtors having such insurance and not made to debtors not having such insurance; it includes a charge for insurance that is disclosed in the credit or other instrument furnished to the debtor which sets out the financial elements of the credit transaction and any difference in the finance, interest, service or other similar charge made to debtors who are in like circumstances except for the insured or noninsured status of the debtor or of the property used as security for the credit transaction; and

  (10) "Open-end credit" means credit extended by a creditor under an agreement in which:

  a. See Delaware Code Title 18 Sec. 3702

• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Contractual obligation: means an obligation under a policy or contract or certificate under a group policy or contract, or portion thereof, for which coverage is provided under § 4403 of this title. See Delaware Code Title 18 Sec. 4405
• Control: means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract other than a commercial contract for goods or nonmanagement services or otherwise, unless the power is the result of an official position with or corporate office held by the person. See Delaware Code Title 18 Sec. 4205
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Corrective order: means an order issued by the Commissioner specifying corrective actions which the Commissioner has determined are required. See Delaware Code Title 18 Sec. 5801
• Covered claim: means an unpaid claim, including one for unearned premiums, submitted by a claimant, which arises out of and is within the coverage, and subject to the applicable limits, of an insurance policy to which this chapter applies, issued by an insurer, if such insurer becomes an insolvent insurer after July 5, 1991, and:

  1. See Delaware Code Title 18 Sec. 4205

• covered policy: means a policy or contract or portion of a policy or contract for which coverage is provided under § 4403 of this title. See Delaware Code Title 18 Sec. 4405
• Creditable coverage: means , with respect to an individual, health benefits or coverage provided under any of the following:

  a. See Delaware Code Title 18 Sec. 3602

• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Dental plan: means any contractual arrangement for dental services provided directly or arranged for or administered directly on a prepaid or postpaid individual or group capitation basis. See Delaware Code Title 18 Sec. 3802
• Dental plan organization: means any person who undertakes to provide directly or to arrange for or administer 1 or more dental plans providing dental services. See Delaware Code Title 18 Sec. 3802
• Dental services: means services included in the practice of dentistry as defined in § 1121 of Title 24. See Delaware Code Title 18 Sec. 3802
• Department: means the Delaware Department of Health and Social Services. See Delaware Code Title 18 Sec. 4004
• Dependent: A person dependent for support upon another.
• Dependent: means a spouse, an enrollee's child by blood or law who is less than 26 years of age and an unmarried child of any age who is medically certified as totally disabled and dependent upon the enrollee. See Delaware Code Title 18 Sec. 3602
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• dollars: means lawful money of the United States. See Delaware Code Title 1 Sec. 302
• domestic health organization: means a health organization domiciled in this State. See Delaware Code Title 18 Sec. 5820
• Domestic insurer: means any insurance company domiciled in this State, except insurers not doing business with citizens or residents of the United States or organized or located within the United States. See Delaware Code Title 18 Sec. 5801
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• Enrollee: means an individual and that individual's dependents who are enrolled in a dental plan organization. See Delaware Code Title 18 Sec. 3802
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Evidence of coverage: means any certificate, agreement or contract issued to an enrollee setting out the dental services to which the enrollee is entitled. See Delaware Code Title 18 Sec. 3802
• Extracontractual claims: includes claims relating to bad faith in the payment of claims, punitive or exemplary damages, or attorneys' fees and costs. See Delaware Code Title 18 Sec. 4405
• Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. ^{Source: OCC}
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• foreign health organization: means a health organization that is licensed to do business in this State under this title but is not domiciled in this State. See Delaware Code Title 18 Sec. 5820
• Foreign insurer: means any insurance company which is licensed to do business in this State under § 516 of this title, but is not domiciled in this State. See Delaware Code Title 18 Sec. 5801
• Form: means policies, contracts, riders, endorsements and applications required to be filed with the Commissioner pursuant to §§ 2712 and 6306 of this title. See Delaware Code Title 18 Sec. 3602
• Fraud: Intentional deception resulting in injury to another.
• Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. ^{Source: OCC}
• Fund: means the State Self-Insurance Fund as provided for by subchapter III of this chapter. See Delaware Code Title 18 Sec. 6501
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• Germane: On the subject of the pending bill or other business; a strict standard of relevance.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Governmental plan: has the meaning given such term under § 3(32) of the Employee Retirement Income Security Act of 1974 [29 U. See Delaware Code Title 18 Sec. 3602
• Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. ^{Source: Federal Reserve}
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Health benefit plan: means any hospital or medical expense policy or certificate, major medical expense insurance policy or certificate, any hospital or medical service plan contract, health maintenance organization or health service corporation subscriber contract or any other similar health contract subject to the jurisdiction of the Commissioner. See Delaware Code Title 18 Sec. 3602
• Health insurance: means insurance permitted to be written in accordance with § 903 of this title, other than credit health insurance, and coverages written under Chapter 63 of this title, Health Service Corporations. See Delaware Code Title 18 Sec. 3602
• Health insurer: includes all of the following:

  a. See Delaware Code Title 18 Sec. 4004

• health organization: means a health maintenance organization, limited health service organization, health service corporation, dental or vision plan, hospital, medical and dental indemnity or service corporation or other managed care organization licensed under this title. See Delaware Code Title 18 Sec. 5820
• Health status-related factor: means any of the following factors:

  a. See Delaware Code Title 18 Sec. 3602

• Impaired insurer: means a member insurer which, after the effective date of this chapter, is not an insolvent insurer, and is placed under an order of rehabilitation or conservation by a court of competent jurisdiction. See Delaware Code Title 18 Sec. 4405
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insolvent insurer: means an insurer licensed to transact insurance in this State, either at the time the policy was issued or when the insured event occurred, and against whom an order of liquidation with a finding of insolvency has been entered after July 5, 1991, by a court of competent jurisdiction in the state of domicile or in this State under Chapter 59 of this title and which order of liquidation has not been stayed or been the subject of a writ of supersedeas or other comparable order. See Delaware Code Title 18 Sec. 4205
• Insolvent insurer: means a member insurer which after the effective date of this chapter, is placed under an order of liquidation by a court of competent jurisdiction with a finding of insolvency. See Delaware Code Title 18 Sec. 4405
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lawful age: means the age of 18 years or older. See Delaware Code Title 1 Sec. 302
• Laws: shall mean the society's certificate of incorporation, constitution and bylaws, however designated. See Delaware Code Title 18 Sec. 6204
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Lodge: shall mean subordinate member units of the society, known as camps, courts, councils, branches or by any other designation. See Delaware Code Title 18 Sec. 6204
• Mandatory Control Level RBC: means the product of . See Delaware Code Title 18 Sec. 5801
• Medical care: means amounts paid for:

  a. See Delaware Code Title 18 Sec. 3602

• Member insurer: means any person who:

  a. See Delaware Code Title 18 Sec. 4205

• Member insurer: means an insurer, managed care organization, or health maintenance organization licensed or that holds a certificate of authority to transact in this State any kind of insurance, managed care organization, or health maintenance organization business for which coverage is provided under § 4403 of this title, and includes an insurer, managed care organization, or health maintenance organization whose license or certificate of authority in this State may have been suspended, revoked, not renewed or voluntarily withdrawn, but does not include:

  a. See Delaware Code Title 18 Sec. 4405

• minor child: means a person who has not reached the age of 18 years. See Delaware Code Title 1 Sec. 302
• Month: means a calendar month, unless otherwise expressed. See Delaware Code Title 1 Sec. 302
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• NAIC: means the National Association of Insurance Commissioners. See Delaware Code Title 18 Sec. 5801
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• Negative trend: means , with respect to a life and/or health insurer, negative trend over a period of time, as determined in accordance with the Trend Test Calculation included in the RBC Instructions. See Delaware Code Title 18 Sec. 5801
• Net direct written premiums: means direct gross premiums written in this State on insurance policies to which this chapter applies, less return premiums thereon and dividends paid or credited to policyholders on such direct business. See Delaware Code Title 18 Sec. 4205
• Network plan: means health insurance coverage offered by a health carrier under which the financing and delivery of medical care including items and services paid for as medical care are provided, in whole or in part, through a defined set of providers under contract with the carrier. See Delaware Code Title 18 Sec. 3602
• Nonpayment of premium: means failure of the named insured to discharge when due any of his or her obligations in connection with the payment of premiums on a policy or any installment of such premium, whether the premium is payable directly to the insurer or its agent or indirectly under any premium finance plan or extension of credit. See Delaware Code Title 18 Sec. 3903
• Oath: A promise to tell the truth.
• Oath: includes affirmation in all cases where an affirmation may be substituted for an oath, and "sworn" includes affirmed; and the forms shall be varied accordingly. See Delaware Code Title 1 Sec. 302
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Ocean marine insurance: includes any form of insurance, regardless of the name, label, or marketing designation of the insurance policy, which insures against maritime perils or risks and other related perils or risks, which are usually insured against by traditional marine insurance, such as hull and machinery, marine builders risk, and marine protection and indemnity. See Delaware Code Title 18 Sec. 4205
• Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) ^{Source: OCC}
• Oversight: Committee review of the activities of a Federal agency or program.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means any individual, corporation, partnership, association, governmental entity or voluntary organization. See Delaware Code Title 18 Sec. 4205
• Person: means an individual, corporation, limited liability company, partnership, association, governmental body or entity or voluntary organization. See Delaware Code Title 18 Sec. 4405
• Personal property: All property that is not real property.
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plan sponsor: means :

  a. See Delaware Code Title 18 Sec. 4405

• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Policy: means the entire contract between the insurer and the insured, including the policy riders, endorsements and the application, if attached, and also includes subscriber contracts issued by health service corporations. See Delaware Code Title 18 Sec. 3602
• Policy: means any 1 or more of the following portions of an automobile insurance policy:

  a. See Delaware Code Title 18 Sec. 3903

• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Premiums: means amounts or considerations (by whatever name called) received on covered policies or contracts less returned premiums, considerations and deposits and less dividends and experience credits. See Delaware Code Title 18 Sec. 4405
• Premiums: shall mean premiums, rates, dues or other required contributions by whatever name known, which are payable under the certificate. See Delaware Code Title 18 Sec. 6204
• Property and casualty insurer: means any insurance company licensed under § 516 of this title, but shall not include monoline mortgage guaranty insurers, financial guaranty insurers and title insurers. See Delaware Code Title 18 Sec. 5801
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Quorum: The number of legislators that must be present to do business.
• RBC instructions: means the RBC report including risk-based capital instructions adopted by the NAIC; as such, RBC instructions may be amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC. See Delaware Code Title 18 Sec. 5801
• RBC plan: means a comprehensive financial plan containing the elements specified in § 5803(b) of this title. See Delaware Code Title 18 Sec. 5801
• RBC report: means the report required in § 5802 of this title. See Delaware Code Title 18 Sec. 5801
• Receivership court: means the court in the insolvent or impaired insurer's state having jurisdiction over the conservation, rehabilitation or liquidation of the member insurer. See Delaware Code Title 18 Sec. 4405
• Regulatory Action Level RBC: means the product of 1. See Delaware Code Title 18 Sec. 5801
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• 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. See Delaware Code Title 18 Sec. 4405
• Rules: shall mean all rules, regulations or resolutions adopted by the supreme governing body or board of directors, which are intended to have general application to the members of the society. See Delaware Code Title 18 Sec. 6204
• savings bank: as used in this chapter , refers to a corporation organized under this chapter. See Delaware Code Title 5 Sec. 1601
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Society: shall mean fraternal benefit society, unless otherwise indicated. See Delaware Code Title 18 Sec. 6204
• State: means a state, the District of Columbia, Puerto Rico, or a United States possession, territory or protectorate. See Delaware Code Title 18 Sec. 4405
• State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
• Statute: A law passed by a legislature.
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• 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. See Delaware Code Title 18 Sec. 4405
• Subpoena: A command to a witness to appear and give testimony.
• subsidiaries: shall include , in addition to those such corporations where the insurer owns a majority of their stock, those corporations formed or acquired by an insurer where it owns less than a majority of such corporation's voting stock due to the laws of a foreign national which require the insurer to own less than a majority of the voting stock of such subsidiary insurance corporation if it is to operate in that nation. See Delaware Code Title 18 Sec. 1313
• Testify: Answer questions in court.
• to renew: means the issuance and delivery by an insurer of a policy superseding at the end of the policy period a policy previously issued and delivered by the same insurer, or the issuance and delivery of a certificate or notice extending the term of a policy beyond its policy period or term. See Delaware Code Title 18 Sec. 3903
• Total adjusted capital: means the sum of:

  a. See Delaware Code Title 18 Sec. 5801

• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Trustee: A person or institution holding and administering property in trust.
• Unallocated annuity contract: means an annuity contract or group annuity certificate which 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. See Delaware Code Title 18 Sec. 4405
• Under age: means an age of less than 18 years. See Delaware Code Title 1 Sec. 302
• United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302
• Venue: The geographical location in which a case is tried.
• Verdict: The decision of a petit jury or a judge.
• Waiting period: means , with respect to an individual who is a potential participant or beneficiary in the plan, the period that must pass with respect to the individual before the individual is eligible for benefits under the terms of the plan. See Delaware Code Title 18 Sec. 3602
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302