Maine Revised Statutes Title 24-A Sec. 1116 – Trustees’ or receivers’ obligations
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Maine Revised Statutes Title 24-A Sec. 1116
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Institution: means a corporation, a joint-stock association, a business trust, a business partnership, a business joint venture or any other similar entity. See Maine Revised Statutes Title 24-A Sec. 1110
- 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.
- 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.
- Obligations: includes bonds, debentures, notes or other evidences of indebtedness. See Maine Revised Statutes Title 24-A Sec. 1110
- United States: when used to signify place includes those geographical areas and the lands and waters adjacent to those geographical areas under the jurisdiction of the United States. See Maine Revised Statutes Title 24-A Sec. 1110
An insurer may invest in certificates, notes or other obligations issued by trustees or receivers of any institution created or existing under the laws of the United States or of any state, district or territory thereof, which, or the assets of which, are being administered under the direction of any court having jurisdiction, if such obligation is adequately secured as to principal and interest. [PL 1969, c. 132, §1 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW).