North Carolina General Statutes 58-10-120. Definitions
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As used in this Part:
(1) “Mortgage guaranty insurers report of policyholders position” means the supplementary report required by the Commissioner.
Terms Used In North Carolina General Statutes 58-10-120
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(2) “Policyholders position” means the contingency reserve established under N.C. Gen. Stat. § 58-10-135 and policyholders’ surplus. “Minimum policyholders position” is calculated as described in N.C. Gen. Stat. § 58-10-125.
(3) “Policyholders surplus” means an insurer’s net worth; the difference between its assets and liabilities, as reported in its annual statement. (2001-223, s. 11; 2005-215, s. 11.)