Federal Insurance Act of 1977: Hearings Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-fifth Congress, First Session, on S. 1710 ... September 12, 13, and 14, 1977 |
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Page 8
... become insolvent . ( B ) There is established in the Treasury of the United States a fund to be known as the Federal Insurance Guaranty Fund ( hereinafter referred to as the " fund " ) . The fund shall contain fees paid by companies ...
... become insolvent . ( B ) There is established in the Treasury of the United States a fund to be known as the Federal Insurance Guaranty Fund ( hereinafter referred to as the " fund " ) . The fund shall contain fees paid by companies ...
Page 11
... section to provide for the rehabilitation , reorganization , or dissolution of a federally guar- anteed insurer whenever it determines that the insurer is unable , or is reason- ably likely to become unable , to fulfill its obligations 11.
... section to provide for the rehabilitation , reorganization , or dissolution of a federally guar- anteed insurer whenever it determines that the insurer is unable , or is reason- ably likely to become unable , to fulfill its obligations 11.
Page 12
... become unable , to fulfill its obligations when due . Upon such determination , the Commission may , after notice to the federally guaranteed insurer , apply to the appropriate United States district court for its appointment as a ...
... become unable , to fulfill its obligations when due . Upon such determination , the Commission may , after notice to the federally guaranteed insurer , apply to the appropriate United States district court for its appointment as a ...
Page 13
... affirmative action to correct the conditions resulting from any such violation or practice . An order under this subsection shall become effective at 99-073 078-2 the expiration of thirty days after service , except in 13.
... affirmative action to correct the conditions resulting from any such violation or practice . An order under this subsection shall become effective at 99-073 078-2 the expiration of thirty days after service , except in 13.
Page 14
... become effective at the time speci- fied therein , and shall remain effective and enforceable as provided therein except to such extent as the order may be stayed , modified terminated , amended , or set aside by action of the agency or ...
... become effective at the time speci- fied therein , and shall remain effective and enforceable as provided therein except to such extent as the order may be stayed , modified terminated , amended , or set aside by action of the agency or ...
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Common terms and phrases
adjustment agency amount antitrust laws applicable assets banks bill business of insurance carriers casualty insurance CHAIRMAN clause Commission on Inflation Committee consumer Contracting Officer Contractor cost Cost Accounting Standards coverage effect established Exhibit expenses FDIC federal antitrust laws Federal Insurance Act Federal Insurance Administration Federal Insurance Commission federal regulation federally chartered insurers federally guaranteed insurers federally-chartered insurers GEICO Government Greater Idaho increase Inflation and Insurance insolvency Insurance Agents insurance business insurance companies Insurance Department Insurance Guaranty Association Insurance Guaranty Fund insurance industry insurance regulation investment issue legislation liability liquidation loss McCarran Act McCarran-Ferguson Act ment NAIC National operating percent Policyholder Security Account Powder Mountain premium prior priority companies problems property and casualty proposal protection rate regulation rating laws ratio regulation of insurance regulatory system Reinmuth reinsurance reserves Section Senator BROOKE Sierra solvency subcontract test results tion underwriting
Popular passages
Page 94 - ... race, creed, color, or national origin. Such action shall include, but not be limited to, the following: employment, upgrading, demotion or transfer; recruitment or recruitment advertising; layoff or termination; rates of pay or other forms of compensation; and selection for training, including apprenticeship. The Contractor agrees to post in conspicuous places, available to employees and applicants for employment, notices to be provided by the Contracting Officer setting forth the provisions...
Page 87 - his duly authorized representative" means any person or persons or board {other than the Contracting Officer) authorized to 'act for the head of the agency or the Secretary. (b) The term "Contracting Officer" means the person executing this contract on behalf of the Government, and any other officer or civilian employee who is a properly designated Contracting Officer; and the term includes, except as otherwise provided in this contract, the authorized representative of a Contracting Officer acting...
Page 88 - Government under this contract may be assigned to a bank, trust company, or other financing institution, including any Federal lending agency, and may thereafter be further assigned and reassigned to any such institution. Any such assignment or reassignment shall cover all amounts payable under this contract and not already paid, and shall not be made to more than one party, except that any such assignment or reassignment may be made to one party as agent or trustee for two or more parties participating...
Page 92 - In paragraph (c) above and has failed to request extension of such time, he shall have no such right of appeal. In any case where the Contracting Officer has made a determination of the amount due under paragraph (c) or (e) above, the Government shall pay to the Contractor the following...
Page 95 - Provided, however, That in the event the contractor becomes involved in or is threatened with, litigation with a subcontractor or vendor as a result of such direction by the contracting agency, the contractor may request the United States to enter into such litigation to protect the interests of the United States.
Page 93 - Except as otherwise provided in this contract, any dispute concerning a question of fact arising under this contract which is not disposed of by agreement shall be decided by the Contracting Officer, who shall reduce his decision to writing and mail or otherwise furnish a copy thereof to the Contractor.
Page 95 - September 24, 1965, and such other sanctions may be imposed and remedies invoked as provided in Executive Order No. 11246 of September 24, 1965, or by rule, regulation, or order of the Secretary of Labor, or as otherwise provided by law.
Page 91 - And provided further, That the proceeds of any such transfer or disposition shall be applied in reduction of any payments to be made by the Government to the contractor under this contract or shall otherwise be credited to the price or cost of the work covered by this contract or paid in such other manner as the Contra cting Officer may direct; (8) Complete performance of such part of the work as shall not have been terminated...
Page 90 - Place no further orders or subcontracts for materials, services, or facilities, except as may be necessary for completion of such portion of the work under the contract as...
Page 93 - In connection with the terminated portion of this contract whenever In the opinion of the Contracting Officer the aggregate of such payments shall be within the amount to which the Contractor will be entitled hereunder. If the total of such payments Is In excess of the amount finally agreed or determined to be due under this clause, such excess shall be payable by the Contractor to the Government upon demand, together with interest computed at the rate of 6...