Maine Revised Statutes > Title 5 > Part 31 > Chapter 631 – Permanent Commission On the Status of Racial, Indigenous and Tribal Populations
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Terms Used In Maine Revised Statutes > Title 5 > Part 31 > Chapter 631 - Permanent Commission On the Status of Racial, Indigenous and Tribal Populations
- Actuary: means a person who is a member in good standing of the American Academy of Actuaries. See Maine Revised Statutes Title 24-A Sec. 741
- Adjuster: means any individual who, as an independent contractor or as an employee of an independent contractor, or as an employee of another organization, for fee, commission or other compensation, investigates for, settles on behalf of and reports to an insurer, fraternal benefit society, workers' compensation self-insurer or insured relative to claims arising under the workers' compensation laws or other types of insurance contracts. See Maine Revised Statutes Title 24-A Sec. 1402
- Adjuster trainee: means any individual with less than one year total experience handling loss claims under insurance contracts or the workers' compensation laws who is not licensed in this State as an adjuster and who is employed by and subject to the immediate personal supervision of an adjuster who is licensed in this State and who has been established in the business of adjusting for 3 years or more. See Maine Revised Statutes Title 24-A Sec. 1402
- 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.
- Affordable housing: means a decent, safe and sanitary dwelling, apartment or other living accommodation for a household whose income does not exceed 80% of the median income for the area as defined by the United States Department of Housing and Urban Development under the United States Housing Act of 1937, Public Law 75-412, 50 Stat. See Maine Revised Statutes Title 30-A Sec. 4301
- Aggregate limit: means the maximum sum payable to the ceding insurer under a special purpose reinsurance vehicle contract. See Maine Revised Statutes Title 24-A Sec. 781
- Allegation: something that someone says happened.
- 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.
- 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.
- Appointed actuary: means the actuary appointed by an insurer pursuant to section 952?A, subsection 1. See Maine Revised Statutes Title 24-A Sec. 951-A
- Assuming insurer: means the insurer that acquires an insurance obligation or risk from the transferring insurer pursuant to an assumption reinsurance agreement. See Maine Revised Statutes Title 24-A Sec. 761
- Assumption reinsurance agreement: means a contract that both:
A. See Maine Revised Statutes Title 24-A Sec. 761Attachment: A procedure by which a person's property is seized to pay judgments levied by the court. automated claims adjudication system: means a preprogrammed computer system designed for the collection, data entry, calculation and final resolution of portable electronic device insurance claims that is used by an adjuster, insurance producer or supervised individual operating pursuant to this paragraph; complies with all claims payment requirements of the Maine Insurance Code; and is certified as compliant with this paragraph by a licensed adjuster that is an officer of a business entity licensed under this chapter. See Maine Revised Statutes Title 24-A Sec. 1402 Business entity: means a corporation, association, partnership, limited liability company, limited liability partnership or other legal entity. See Maine Revised Statutes Title 24-A Sec. 1402 Business entity: means a corporation, association, partnership, limited liability company, limited liability partnership or other legal entity. See Maine Revised Statutes Title 24-A Sec. 1420-A Catastrophe excess of loss property reinsurance: means excess of loss reinsurance for a catastrophe layer of a reinsurance program, written on either a per occurrence or aggregate basis. See Maine Revised Statutes Title 24-A Sec. 781 Catastrophe life or health reinsurance: means reinsurance of life, health or annuity products that transfers mortality, morbidity, survival or other related risks in excess of existing proportional or nonproportional automatic and facultative treaties newly placed or in force on the same risks. See Maine Revised Statutes Title 24-A Sec. 781 Ceding insurer: means an insurer that enters into a special purpose reinsurance vehicle contract with a special purpose reinsurance vehicle and includes a reinsurer retroceding assumed reinsurance to a special purpose reinsurance vehicle. See Maine Revised Statutes Title 24-A Sec. 781 Cession: means a transfer by a policy originating insurer to a reinsurer of the whole or a portion of a single risk, defined policy or defined division of business as set out in a reinsurance contract. See Maine Revised Statutes Title 24-A Sec. 741 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. Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant. Comprehensive plan: means a document or interrelated documents containing the elements established under section 4326, subsections 1 to 4, including the strategies for an implementation program which are consistent with the goals and guidelines established under subchapter II. See Maine Revised Statutes Title 30-A Sec. 4301 Consultant: means any individual who, for a fee, advises or offers to advise any person insured or seeking insurance or named or to be named as beneficiary, or having or to have any interest in or insured under any property and casualty or life and health insurance contract or annuity contract, existing or proposed. See Maine Revised Statutes Title 24-A Sec. 1402 Continuance: Putting off of a hearing ot trial until a later time. contract: means a contract between the special purpose reinsurance vehicle and the ceding insurer pursuant to which the special purpose reinsurance vehicle agrees to pay the ceding insurer an agreed amount upon the occurrence of a triggering event. See Maine Revised Statutes Title 24-A Sec. 781 Contract of insurance: means a written agreement between an insurer and policyholder pursuant to which the insurer, in exchange for premium or other consideration, agrees to assume an obligation or risk of the policyholder or to make payments on behalf of, or to, the policyholder or its beneficiaries. See Maine Revised Statutes Title 24-A Sec. 761 Controlling person: means any person who directly or indirectly has the power to direct or cause to be directed the management, control or activities of the reinsurance intermediary. See Maine Revised Statutes Title 24-A Sec. 741 Conviction: A judgement of guilt against a criminal defendant. Cooperative affordable housing corporation: means a domestic corporation that is organized under or elects to be governed by the provisions of this subchapter. See Maine Revised Statutes Title 13 Sec. 1742 Cooperative interest: means the ownership interest in a cooperative affordable housing corporation that is evidenced by a membership share. See Maine Revised Statutes Title 13 Sec. 1742 Cooperative property: means the real and personal property, including mobile and manufactured homes, in this State owned or leased by a cooperative affordable housing corporation for the primary purpose of residential use. See Maine Revised Statutes Title 13 Sec. 1742 Covered kinds of insurance: means property insurance as defined in section 705 and casualty insurance as defined in section 707 and does not include health insurance as defined in section 704, unless required by the applicable NAIC annual statement instructions to be included in the property and casualty actuarial opinion of a casualty insurer or multiple lines insurer, or property insurance written by domestic mutual assessment insurers pursuant to chapter 51. See Maine Revised Statutes Title 24-A Sec. 992 Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Department: means the Department of Agriculture, Conservation and Forestry. See Maine Revised Statutes Title 30-A Sec. 4301 Development: means a change in land use involving alteration of the land, water or vegetation, or the addition or alteration of structures or other construction not naturally occurring. See Maine Revised Statutes Title 30-A Sec. 4301 Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial. Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC Employee cooperative: means a corporation which has duly elected to be governed by this subchapter. See Maine Revised Statutes Title 13 Sec. 1972 Fair value: means :
A. See Maine Revised Statutes Title 24-A Sec. 781Fiduciary: A trustee, executor, or administrator. 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. Fraud: Intentional deception resulting in injury to another. Fully funded: means , with respect to a special purpose reinsurance vehicle contract, that the fair value of the assets under the control of the ceding insurer or held in trust for the benefit of the ceding insurer under the special purpose reinsurance vehicle contract on the date on which the special purpose reinsurance vehicle contract is effected, equals or exceeds the aggregate limit as defined in subsection 1. See Maine Revised Statutes Title 24-A Sec. 781 health insurance: means insurance of human beings against bodily injury, disablement or death by accident or accidental means, or the expense thereof, or against disablement or expense resulting from sickness, and every insurance appertaining thereto, including provision for the mental and emotional welfare of human beings by defraying the costs of legal services only to the extent provided for in chapter 38. See Maine Revised Statutes Title 24-A Sec. 704 Home rule authority: means the powers granted to municipalities under chapter 111; section 3001; and the Constitution of Maine, Article VIII, Part Second. See Maine Revised Statutes Title 30-A Sec. 2001 Home service business: means insurance business on which premiums are collected on a weekly or monthly basis by an agent of the insurer. See Maine Revised Statutes Title 24-A Sec. 761 Home state: means the District of Columbia and any state or territory of the United States that is the location of an insurance producer's principal place of residence or principal place of business, and in which that person is licensed to act as an insurance producer. See Maine Revised Statutes Title 24-A Sec. 1420-A Impact fee: means a charge or assessment imposed by a municipality against a new development to fund or recoup a portion of the cost of new, expanded or replacement infrastructure facilities necessitated by and attributable at least in part to the new development. See Maine Revised Statutes Title 30-A Sec. 4301 impaired: means , with respect to a special purpose reinsurance vehicle or any of its protected cells, that either:
A. See Maine Revised Statutes Title 24-A Sec. 781in writing: include printing and other modes of making legible words. See Maine Revised Statutes Title 1 Sec. 72 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 Indemnity trigger: means a transaction term by which the special purpose reinsurance vehicle's obligation to pay the ceding insurer for losses covered by a special purpose reinsurance vehicle contract is triggered by the ceding insurer incurring a specified level of losses. See Maine Revised Statutes Title 24-A Sec. 781 Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury. insolvent: means that the special purpose reinsurance vehicle or one or more of its protected cells is unable to pay its obligations when they are due unless the obligations are the subject of a bona fide dispute. See Maine Revised Statutes Title 24-A Sec. 781 Insurance producer: means a person required to be licensed under subchapter II?A to sell, solicit or negotiate insurance. See Maine Revised Statutes Title 24-A Sec. 1402 Insurance producer: means a person required to be licensed under the laws of this State to sell, solicit or negotiate insurance. See Maine Revised Statutes Title 24-A Sec. 1420-A insurance securitization: means a package of related risk transfer instruments, capital market offerings and facilitating administrative agreements by which proceeds are obtained by a special purpose reinsurance vehicle directly or indirectly through the issuance of securities and are held in trust or under the control of the ceding insurer pursuant to the requirements of this subchapter to secure the obligations of the special purpose reinsurance vehicle under one or more special purpose reinsurance vehicle contracts with one or more ceding insurers, when investment risk to the holders of these securities is contingent upon the obligations of the special purpose reinsurance vehicle to the ceding insurer or ceding insurers under the special purpose reinsurance vehicle contract in accordance with the transaction terms. See Maine Revised Statutes Title 24-A Sec. 781 Insurer: means every person engaged as principal and as indemnitor, surety or contractor in the business of entering into contracts of insurance who holds an existing certificate of authority to transact insurance in this State pursuant to section 404. See Maine Revised Statutes Title 24-A Sec. 741 Insurer: means a person engaged in the business of entering into contracts of insurance, as defined in section 3, and includes a health maintenance organization, fraternal benefit society, nonprofit hospital or medical service organization, viatical settlement provider or risk retention group. See Maine Revised Statutes Title 24-A Sec. 1420-A 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. Land use ordinance: means an ordinance or regulation of general application adopted by the municipal legislative body which controls, directs or delineates allowable uses of land and the standards for those uses. See Maine Revised Statutes Title 30-A Sec. 4301 lands: includes lands and all tenements and hereditaments connected therewith, and all rights thereto and interests therein. See Maine Revised Statutes Title 1 Sec. 72 Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC Lender: includes , but is not limited to, the following institutional lenders whose policies and procedures are subject to governmental supervision:
A. See Maine Revised Statutes Title 13 Sec. 1742License: means a document issued by the superintendent authorizing a person to act as an insurance producer, adjuster or consultant for kinds of insurance specified in the document as authorized in this chapter. See Maine Revised Statutes Title 24-A Sec. 1402 License: means a document issued by the superintendent authorizing a person to act as an insurance producer for the lines of authority specified in the document. See Maine Revised Statutes Title 24-A Sec. 1420-A Life and health consultant: means a person licensed as a consultant to advise on life contracts, annuity contracts and health insurance contracts. See Maine Revised Statutes Title 24-A Sec. 1402 Limited line credit insurance: includes credit life, credit disability, credit property, credit unemployment, involuntary unemployment, mortgage life, mortgage guaranty, mortgage disability, guaranteed automobile protection insurance and any other form of insurance offered in connection with an extension of credit that is limited to partially or wholly extinguishing that credit obligation that the superintendent determines should be designated a form of limited line credit insurance. See Maine Revised Statutes Title 24-A Sec. 1420-A Limited line credit insurance producer: means a person who sells, solicits or negotiates one or more forms of limited line credit insurance coverage to individuals through a master, corporate, group or individual policy. See Maine Revised Statutes Title 24-A Sec. 1420-A Limited lines insurance: means those lines of insurance defined as limited lines in section 1420?F, subsection 1 or any other line of insurance that the superintendent determines necessary to recognize for the purposes of complying with section 1420?G, subsection 5. See Maine Revised Statutes Title 24-A Sec. 1420-A Limited lines producer: means a person authorized by the superintendent to sell, solicit or negotiate limited lines insurance. See Maine Revised Statutes Title 24-A Sec. 1420-A Member: means a person who owns a cooperative interest. See Maine Revised Statutes Title 13 Sec. 1742 Member: means a natural person who has been accepted for membership in and owns a membership share issued by an employee cooperative. See Maine Revised Statutes Title 13 Sec. 1972 Membership fee: means an initial payment made by a person to an employee cooperative as a condition to becoming a member. See Maine Revised Statutes Title 13 Sec. 1972 Moratorium: means a land use ordinance or other regulation approved by a municipal legislative body that, if necessary, may be adopted on an emergency basis and given immediate effect and that temporarily defers all development, or a type of development, by withholding any permit, authorization or approval necessary for the specified type or types of development. See Maine Revised Statutes Title 30-A Sec. 4301 Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Multiple peril crop insurance adjuster: means a person who adjusts crop insurance claims under the federal crop insurance program administered by the United States Department of Agriculture. See Maine Revised Statutes Title 24-A Sec. 1402 Municipal legislative body: means :
A. See Maine Revised Statutes Title 30-A Sec. 2001Municipal reviewing authority: means the municipal planning board, agency or office, or if none, the municipal officers. See Maine Revised Statutes Title 30-A Sec. 4301 Municipality: means a city or town, except as provided in chapter 225. See Maine Revised Statutes Title 30-A Sec. 2001 National Association of Insurance Commissioners: means the National Association of Insurance Commissioners or its successor organization of insurance regulators. See Maine Revised Statutes Title 24-A Sec. 15 Negotiate: means the act of conferring directly with or offering advice directly to a purchaser or prospective purchaser of a particular contract of insurance concerning any of the substantive benefits, terms or conditions of the contract, provided that the person engaged in that act either sells insurance or obtains insurance from insurers for purchasers. See Maine Revised Statutes Title 24-A Sec. 1420-A Nonindemnity trigger: means a transaction term by which the special purpose reinsurance vehicle's obligation to pay the ceding insurer under a special purpose reinsurance vehicle contract arises from the occurrence or existence of some event or condition other than the ceding insurer incurring a specified level of losses under its insurance or reinsurance contracts. See Maine Revised Statutes Title 24-A Sec. 781 Nonresident: means a person other than a resident of this State. See Maine Revised Statutes Title 24-A Sec. 1402 Notice of transfer: means the written notice to policyholders required by section 764, subsection 1. See Maine Revised Statutes Title 24-A Sec. 761 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. organizer: means one or more persons that have organized or intend to organize a special purpose reinsurance vehicle under authority obtained as specified in this subchapter. See Maine Revised Statutes Title 24-A Sec. 781 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. Patronage: means the amount of work performed as a member of an employee cooperative, measured in accordance with the articles of incorporation or bylaws. See Maine Revised Statutes Title 13 Sec. 1972 Permitted investments: means those investments that meet the qualifications under section 795. See Maine Revised Statutes Title 24-A Sec. 781 Person: means an individual or a business entity. See Maine Revised Statutes Title 24-A Sec. 1420-A Person: means an individual, corporation, partnership, firm, organization or other legal entity. See Maine Revised Statutes Title 30-A Sec. 2001 Personal property: All property that is not real property. Policyholder: means an individual or entity that has the right to terminate or otherwise alter the terms of a contract of insurance. See Maine Revised Statutes Title 24-A Sec. 761 Policyholder behavior: means any action a policyholder, contract holder or any other person with the right to elect options, such as a certificate holder, may take under a policy or contract subject to this subchapter, including, but not limited to, lapse, withdrawal, transfer, deposit, premium payment, loan, annuitization or benefit elections prescribed by the policy or contract, but excluding events of mortality or morbidity that result in benefits prescribed in their essential aspects by the terms of the policy or contract. See Maine Revised Statutes Title 24-A Sec. 951-A 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. Principle-based valuation: means a reserve valuation that uses one or more methods or one or more assumptions determined by the insurer and is subject to section 960. See Maine Revised Statutes Title 24-A Sec. 951-A Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed. Property and casualty consultant: means a person licensed as a consultant to advise on any one or more of the following kinds of insurance:
A. See Maine Revised Statutes Title 24-A Sec. 1402Property and casualty insurance adjuster: means a person who adjusts property and casualty claims of any kind except for multiple peril crop insurance claims and workers' compensation claims. See Maine Revised Statutes Title 24-A Sec. 1402 Protected cell: means a separate account established and maintained by a special purpose reinsurance vehicle for one special purpose reinsurance vehicle contract and the accompanying insurance securitization with a ceding insurer as further provided for in section 784?A. See Maine Revised Statutes Title 24-A Sec. 781 Public drinking water supplier: means a public water supplier as defined by the federal Safe Drinking Water Act that provides drinking water from a source water protection area. See Maine Revised Statutes Title 30-A Sec. 2001 Qualified actuary: means an individual who is qualified to sign the applicable statement of actuarial opinion in accordance with the American Academy of Actuaries qualification standards for actuaries signing such statements and who meets all applicable requirements specified in the valuation manual or by rule adopted by the superintendent. See Maine Revised Statutes Title 24-A Sec. 951-A Qualified actuary: means a person who is a member of the American Academy of Actuaries who has obtained a designation either as a fellow or an associate in the Casualty Actuarial Society and, if an associate, has at least 5 years' experience in actuarial practice obtained in the covered kinds of insurance. See Maine Revised Statutes Title 24-A Sec. 992 qualified United States financial institution: means an institution that:
A. See Maine Revised Statutes Title 24-A Sec. 741Qualified United States financial institution: means for purposes of meeting the requirements of a trustee as specified in section 784 a financial institution that is eligible to act as a fiduciary of a trust and:
A. See Maine Revised Statutes Title 24-A Sec. 781Rate of growth ordinance: means a land use ordinance or other rule that limits the number of building or development permits issued by a municipality or other jurisdiction over a designated time frame. See Maine Revised Statutes Title 30-A Sec. 4301 Real estate: includes lands and all tenements and hereditaments connected therewith, and all rights thereto and interests therein. See Maine Revised Statutes Title 1 Sec. 72 Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC registered mail: when used in connection with any requirement for notice by mail shall mean either registered mail or certified mail. See Maine Revised Statutes Title 1 Sec. 72 Reinsurance intermediary: means a reinsurance intermediary-broker or a reinsurance intermediary-manager as these terms are defined in subsections 6 and 7. See Maine Revised Statutes Title 24-A Sec. 741 Reinsurance intermediary-broker: means any person, other than an officer or employee of the ceding insurer who solicits, negotiates or places reinsurance cessions or retrocessions on behalf of a ceding insurer without the authority or power to bind reinsurance on behalf of the insurer. See Maine Revised Statutes Title 24-A Sec. 741 Reinsurance intermediary-manager: means any person who has authority to bind or manages all or part of the assumed reinsurance business of a reinsurer, including the management of a separate division, department or underwriting office, and acts as an agent for such a reinsurer whether known as a reinsurance intermediary-manager, manager or other similar term. See Maine Revised Statutes Title 24-A Sec. 741 Reinsurance vehicle: means a special purpose reinsurance vehicle. See Maine Revised Statutes Title 24-A Sec. 781 Reinsurer: means any person who operates as an insurer in any manner under applicable provisions of this Title in the assumption of reinsurance risks. See Maine Revised Statutes Title 24-A Sec. 741 Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant. Resident: means any of the following:
A. See Maine Revised Statutes Title 24-A Sec. 1402Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action. Retrocession: means a transfer by a reinsurer to another reinsurer of those risks defined in subsection 2. See Maine Revised Statutes Title 24-A Sec. 741 Retrocessionaire: means an insurer or reinsurer assuming reinsurance risks under a retrocession. See Maine Revised Statutes Title 24-A Sec. 741 securities: means the securities issued by a special purpose reinsurance vehicle. See Maine Revised Statutes Title 24-A Sec. 781 Sell: means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurance company. See Maine Revised Statutes Title 24-A Sec. 1420-A Service of process: The service of writs or summonses to the appropriate party. 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. Sewer system: includes both sewers and sewage disposal systems and all property, rights, easements and franchises relating to those sewers and sewage disposal systems. See Maine Revised Statutes Title 30-A Sec. 2001 Solicit: means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance from a particular company. See Maine Revised Statutes Title 24-A Sec. 1420-A Source water protection area: means an area that contributes recharge water to a surface water intake or public water supply well for a public drinking water supply. See Maine Revised Statutes Title 30-A Sec. 2001 Special purpose reinsurance vehicle: means an entity domiciled in and organized under the laws of this State that has received a limited certificate of authority from the superintendent under this subchapter exclusively for the limited purpose of entering into and effectuating special purpose reinsurance vehicle insurance securitizations, special purpose reinsurance vehicle contracts and other related transactions permitted by this subchapter. See Maine Revised Statutes Title 24-A Sec. 781 Subject lines of insurance: means life insurance, accident and health insurance and deposit-type contracts, as those terms are defined in the valuation manual. See Maine Revised Statutes Title 24-A Sec. 951-A Subpoena: A command to a witness to appear and give testimony. Subscription agreement: means a written agreement between a prospective member and a cooperative affordable housing corporation for the purchase and sale of a cooperative interest. See Maine Revised Statutes Title 13 Sec. 1742 Tail risk: means a risk for which the frequency of low-probability events is higher than expected under a normal probability distribution or the risk of events of very significant magnitude. See Maine Revised Statutes Title 24-A Sec. 951-A Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held. Terminate: means the cancellation of the relationship between an insurance producer and the insurer or the termination of a producer's authority to transact insurance. See Maine Revised Statutes Title 24-A Sec. 1420-A Testify: Answer questions in court. Testimony: Evidence presented orally by witnesses during trials or before grand juries. To advise: means to provide information relative to coverage, rights or interests under insurance or annuity contracts, or relative to the retention, exchange, surrender, exercise of rights or other disposition of insurance or annuity contracts. See Maine Revised Statutes Title 24-A Sec. 1402 Town: includes cities and plantations, unless otherwise expressed or implied. See Maine Revised Statutes Title 1 Sec. 72 Transferring insurer: means the insurer that transfers an insurance obligation risk to an assuming insurer pursuant to an assumption reinsurance agreement. See Maine Revised Statutes Title 24-A Sec. 761 Triggering event: means an event or condition that if and when it occurs or exists obligates the special purpose reinsurance vehicle to make a payment to the ceding insurer under the provisions of a special purpose reinsurance vehicle contract. See Maine Revised Statutes Title 24-A Sec. 781 Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC Trustee: A person or institution holding and administering property in trust. under common 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 Maine Revised Statutes Title 24-A Sec. 781 Uniform application: means the uniform application for resident and nonresident producer licensing authorized by the National Association of Insurance Commissioners or its successor organization. See Maine Revised Statutes Title 24-A Sec. 1420-A Uniform business entity application: means the uniform business entity application for resident and nonresident business entities authorized by the National Association of Insurance Commissioners, or its successor organization. See Maine Revised Statutes Title 24-A Sec. 1420-A Unit: means a portion of the cooperative property leased for exclusive occupancy by a member under a proprietary lease or leased to a tenant by lease agreement. See Maine Revised Statutes Title 13 Sec. 1742 Valuation manual: means the manual of valuation instructions adopted by the NAIC as specified in section 959. See Maine Revised Statutes Title 24-A Sec. 951-A Written notice of allocation: means a written instrument which discloses to a member the stated dollar amount of that member's patronage allocation and the terms for payment of that amount by the employee cooperative. See Maine Revised Statutes Title 13 Sec. 1972