Sections
Subchapter 1 Assets 901-A
Subchapter 3 Life Insurance Reserves 951 – 962
Subchapter 5 Property and Casualty Actuarial Opinion 991 – 994

Terms Used In Maine Revised Statutes > Title 24-A > Chapter 11 - Assets and Liabilities

  • 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.
  • 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
  • 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.
  • Board: means the Board of Respiratory Care Practitioners established under this chapter. See Maine Revised Statutes Title 32 Sec. 9702
  • Board: means the Radiologic Technology Board of Examiners. See Maine Revised Statutes Title 32 Sec. 9852
  • Board: means the Board of Licensing of Dietetic Practice established under this chapter. See Maine Revised Statutes Title 32 Sec. 9902
  • Commissioner: means the Commissioner of Professional and Financial Regulation. See Maine Revised Statutes Title 32 Sec. 9702
  • Commissioner: means the Commissioner of Professional and Financial Regulation. See Maine Revised Statutes Title 32 Sec. 9902
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • Court reporter: A person who makes a word-for-word record of what is said in court and produces a transcript of the proceedings upon request.
  • 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
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Dental radiographer: means a person, other than a licensed practitioner, whose duties include radiography of the maxilla, mandible and adjacent structures for diagnostic purposes and who is licensed under chapter 143. See Maine Revised Statutes Title 32 Sec. 9852
  • Department: means the Department of Professional and Financial Regulation. See Maine Revised Statutes Title 32 Sec. 9702
  • Department: means the Department of Professional and Financial Regulation. See Maine Revised Statutes Title 32 Sec. 9902
  • Dietetics: means the professional discipline of assessing the nutritional needs of an individual, including recognition of the effects of the individual's physical condition and economic circumstances, and the applying of scientific principles of nutrition to prescribing means to ensure the individual's proper nourishment and care. See Maine Revised Statutes Title 32 Sec. 9902
  • Documentary material: shall include the original or a copy of any book, record, report, memorandum, paper, communication, tabulation, map, chart, photograph, mechanical transcription or other tangible document or recording wherever situate. See Maine Revised Statutes Title 5 Sec. 206
  • 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
  • Fraud: Intentional deception resulting in injury to another.
  • 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
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • 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
  • Ionizing radiation: means gamma rays and x rays; alpha and beta particles, high-speed electrons, neutrons, protons and other nuclear particles; but not ultrasound, sound or radio waves, magnetic fields or visible, infrared or ultraviolet light. See Maine Revised Statutes Title 32 Sec. 9852
  • License: means a certificate issued by the board authorizing the licensee to use radioactive materials or equipment emitting ionizing radiation on human beings for diagnostic or therapeutic purposes in accordance with the provisions of this Act. See Maine Revised Statutes Title 32 Sec. 9852
  • Licensed camping facility: means a recreational camp, youth camp or camping area licensed under Title 22, section 2495. See Maine Revised Statutes Title 12 Sec. 9001-A
  • Licensed dietetic technician: means a person licensed under this chapter who practices dietetics under the supervision of a dietitian who is licensed in accordance with this chapter. See Maine Revised Statutes Title 32 Sec. 9902
  • Licensed dietitian: means a person who practices dietetics and who is licensed as a dietitian under this chapter. See Maine Revised Statutes Title 32 Sec. 9902
  • Licensed physician: means a person licensed to practice medicine or osteopathy in this State. See Maine Revised Statutes Title 32 Sec. 9852
  • Licensed practitioner: means a person licensed to practice medicine, dentistry, chiropractic, podiatry or osteopathy in this State. See Maine Revised Statutes Title 32 Sec. 9852
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Municipal officers: means :  
A. See Maine Revised Statutes Title 30-A Sec. 2001
  • Municipality: means a city or town, except as provided in chapter 225. See Maine Revised Statutes Title 30-A Sec. 2001
  • NAIC: means the National Association of Insurance Commissioners or its successor organization. See Maine Revised Statutes Title 24-A Sec. 951-A
  • NAIC: means the National Association of Insurance Commissioners. See Maine Revised Statutes Title 24-A Sec. 992
  • Nuclear medicine technologist: means a person, other than a licensed practitioner, who uses radionuclide agents on human beings for diagnostic and therapeutic purposes. See Maine Revised Statutes Title 32 Sec. 9852
  • Nuclear medicine technology: means the use of radionuclides on human beings for diagnostic and therapeutic purposes under the supervision of a licensed physician. See Maine Revised Statutes Title 32 Sec. 9852
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Person: means an individual, corporation, partnership, firm, organization or other legal entity. See Maine Revised Statutes Title 30-A Sec. 2001
  • Person: shall include , where applicable, natural persons, corporations, trusts, partnerships, incorporated or unincorporated associations and any other legal entity. See Maine Revised Statutes Title 5 Sec. 206
  • Person: means any individual, partnership, unincorporated organization or corporation. See Maine Revised Statutes Title 32 Sec. 9702
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • 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
  • 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
  • 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
  • Radiation therapist: means a person, other than a licensed practitioner, who applies ionizing radiation to human beings for therapeutic and simulation purposes, excluding the administration of radiopharmaceuticals. See Maine Revised Statutes Title 32 Sec. 9852
  • Radiation therapy technology: means the use of ionizing radiation on human beings for therapeutic and simulation purposes, excluding the administration of radiopharmaceuticals, under the supervision of a licensed physician. See Maine Revised Statutes Title 32 Sec. 9852
  • Radiographer: means a person, other than a licensed practitioner, who applies ionizing radiation to human beings for imaging purposes, excluding the administration of radiopharmaceuticals. See Maine Revised Statutes Title 32 Sec. 9852
  • Radiography: means the use of ionizing radiation on human beings for imaging purposes, excluding the administration of radiopharmaceuticals, under the supervision of a licensed practitioner. See Maine Revised Statutes Title 32 Sec. 9852
  • Radiologic technologist: means any person who is a radiographer, a radiation therapist or a nuclear medicine technologist licensed under this chapter. See Maine Revised Statutes Title 32 Sec. 9852
  • Radiologic technology: means the use of a radioactive substance or equipment emitting ionizing radiation on human beings for diagnostic or therapeutic purposes. See Maine Revised Statutes Title 32 Sec. 9852
  • Radiological physicist: means a person who has successfully completed education and training in medical radiological physics or one of the subspecialties of radiological physics. See Maine Revised Statutes Title 32 Sec. 9852
  • Radiologist: means a physician, certified by the American Board of Radiology or the American Osteopathic Board of Radiology, the British Royal College of Radiology or the Royal College of Physicians and Surgeons, who is licensed in this State or who has completed or who is actively pursuing the course of training equivalent to the course of training required for admission to these boards. See Maine Revised Statutes Title 32 Sec. 9852
  • Radiopharmaceutical: means a radioactive substance approved for administration to a patient to provide diagnostic information or deliver treatment for a specific disease. See Maine Revised Statutes Title 32 Sec. 9852
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • Respiratory care: includes the terms "respiratory therapy" or "inhalation therapy. See Maine Revised Statutes Title 32 Sec. 9702
  • Respiratory care practitioner: means a person licensed as a respiratory therapist or as a respiratory care technician under this chapter. See Maine Revised Statutes Title 32 Sec. 9702
  • Respiratory care practitioner trainee: means an employee of a health care facility who is enrolled in the clinical portion of an approved respiratory care educational program. See Maine Revised Statutes Title 32 Sec. 9702
  • 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.
  • 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.
  • Subpoena duces tecum: A command to a witness to produce documents.
  • 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
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • 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.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • use: means all activities involved in the application of radioactive material. See Maine Revised Statutes Title 32 Sec. 9852
  • 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