exempt contract
Defined in 1 place of the United States Code.
The term “exempt contract” means an insurance or annuity contract issued or reinsured by a qualifying insurance company or qualifying insurance company branch in connection with property in, liability arising out of activity in, or the lives or health of residents of, a country other than the United States.
Source
- 1998–present26 U.S.C. § 953Internal Revenue Code · Insurance income · for purposes of this section