N.Y. Ins. Law § 7705

§ 7705. Definitions. As used in this article:\n (a) "Account" means any of the two accounts created under section\nseven thousand seven hundred six of this article.\n (b) "Contractual obligations" means any obligation under covered\npolicies, but shall not include any obligation with respect to\npolicyholder dividends unpaid or unapplied, retrospective rate credits\nor similar benefits or provisions.\n (c) "Corporation" means The Life Insurance Company Guaranty\nCorporation of New York created under section seven thousand seven\nhundred six of this article unless the context otherwise requires.\n (d) "Covered policy" means any of the kinds of insurance specified in\nparagraph one, two or three of subsection (a) of section one thousand\none hundred thirteen of this chapter, any supplemental contract, or any\nfunding agreement referred to in section three thousand two hundred\ntwenty-two of this chapter, or any portion or part thereof, within the\nscope of this article under section seven thousand seven hundred three\nof this article, except that any certificate issued to an individual\nunder any group policy or contract shall be considered to be a separate\ncovered policy for purposes of section seven thousand seven hundred\neight of this article.\n (e) "Health insurance" means the kinds of insurance specified under\nitems (i) and (ii) of paragraph three of subsection (a) of section one\nthousand one hundred thirteen of this chapter.\n (f) "Impaired insurer" means a member insurer which after the\neffective date of this article is found to be impaired for the purposes\nof section one thousand three hundred ten or one thousand three hundred\neleven of this chapter and is consequently placed under an order of\nliquidation, rehabilitation or conservation under article seventy-four\nof this chapter.\n (g) "Insolvent insurer" means a member insurer which after the\neffective date of this article becomes insolvent for the purposes of\nsection one thousand three hundred nine of this chapter and is placed\nunder a final order of liquidation, rehabilitation or conservation by a\ncourt of competent jurisdiction.\n (h) "Member insurer" means any life insurance company licensed to\ntransact in this state any kind of insurance to which this article\napplies under section seven thousand seven hundred three of this\narticle; provided, however, that the term "member insurer" also means\nany life insurance company formerly licensed to transact in this state\nany kind of insurance to which this article applies under section seven\nthousand seven hundred three of this article.\n (i) "Premiums" means direct gross insurance premiums and annuity and\nfunding agreement considerations received on covered policies, less\nreturn premiums and considerations thereon and dividends paid or\ncredited to policyholders on such direct business, subject to such\nmodifications as the superintendent may establish by regulation or order\nas necessary to facilitate the equitable administration of this article.\nPremiums do not include premiums and considerations on contracts between\ninsurers and reinsurers. For the purposes of determining the assessment\nfor an insurer under this article, the term "premiums", with respect to\na group annuity contract (or portion of any such contract) that does not\nguarantee annuity benefits to any specific individual identified in the\ncontract and with respect to any funding agreement issued to fund\nbenefits under any employee benefit plan, means the lesser of one\nmillion dollars or the premium attributable to that portion of such\ngroup contract that does not guarantee benefits to any specific\nindividuals or such agreements that fund benefits under any employee\nbenefit plan.\n (j) "Person" means any individual or legal entity, including a\ncorporation, partnership, association, limited liability company, trust,\nor voluntary organization.\n (k) "Resident" means a person to whom a contractual obligation is owed\nand who either: (1) resides in this state on the date of entry of a\ncourt order of liquidation or rehabilitation with respect to a member\ninsurer that is an impaired or insolvent insurer; or (2) resided in this\nstate at the time a member insurer issued a covered policy to such\nperson.\n (l) "Supplemental contract" means an agreement or any other mechanism\nfor the distribution of proceeds under a life insurance policy, health\ninsurance policy, annuity contract, or funding agreement.\n