hazardous financial condition
Defined in 1 place of the United States Code.
“hazardous financial condition” means that, based on its present or reasonably anticipated financial condition, a risk retention group is unlikely to be able—
(A) to meet obligations to policyholders with respect to known claims and reasonably anticipated claims; or
(B) to pay other obligations in the normal course of business.
Source
- 1994–present15 U.S.C. § 3901Commerce and Trade · Definitions · as used in this chapter