applicable insurance contract
Defined in 1 place of the United States Code.
The term “applicable insurance contract” means any life insurance, annuity, or endowment contract with respect to which both an applicable exempt organization and a person other than an applicable exempt organization have directly or indirectly held an interest in the contract (whether or not at the same time).
Source
- 2006–present26 U.S.C. § 6050VInternal Revenue Code · Returns relating to applicable insurance contracts in which certain exempt organizations hold interests · for purposes of this section