§ 107. Definitions of terms of general use in this chapter. (a) In\nthis chapter, unless the context otherwise requires:\n (1) "Accident and health insurance company", means any corporation\nhaving power to do the kinds of insurance business specified in item (i)\nof paragraph three of subsection (a) of section one thousand one hundred\nthirteen of this chapter or items (i) and (ii) of such paragraph,\nprovided such company does not have power to do any other kind or kinds\nof insurance business.\n (2) "Accredited reinsurer" means an assuming insurer not authorized to\ndo an insurance business in this state but which (i) presents\nsatisfactory evidence to the superintendent that it meets the applicable\nstandards of solvency required in this state, (ii) is in compliance with\nthe conditions prescribed by regulation under which a ceding insurer may\nbe allowed credit for reinsurance recoverable from an insurer not\nauthorized in this state, and (iii) has received a certificate of\nrecognition as an accredited reinsurer issued by the superintendent\npursuant to such regulation; provided that no insurer shall be an\naccredited reinsurer with respect to any kind of insurance not provided\nfor in such certificate.\n (3) "Admitted assets" means assets of an insurer which conform to the\nrequirements of section one thousand three hundred one of this chapter.\n (4) "Affiliate" means a corporation a majority of whose shares is\nowned or controlled by shareholders, directors or officers of another\ncorporation, who own or control a majority of the shares of the other\ncorporation.\n (5) "Alien insurer" means any insurer incorporated or organized under\nthe laws of any foreign nation, or of any province or territory not\nincluded under the definition of foreign insurer.\n (6) "American institution" means an institution created or existing\nunder the laws of the United States of America or of any state, district\nor territory thereof.\n (7) "Articles of association", when used in reference to an\nunincorporated association, means the basic instrument prescribing the\npowers, purposes and organization of the association.\n (8) "Assuming insurer" means an insurer which, under a contract of\nreinsurance, incurs to another insurer, called the ceding insurer, an\nobligation the performance of which is contingent upon the ceding\ninsurer's incurring liability or loss under its contract or contracts of\ninsurance, guaranty or suretyship made with third persons.\n (9) "At last year-end" means the end of the next preceding calendar\nyear.\n (10) "Authorized insurer" means an insurer authorized as such to do an\ninsurance business in this state in compliance with this chapter, by\nreason of a license so to do issued and in force pursuant to the laws of\nthis state or of a corporate charter granted and in force pursuant to\nthe laws of this state, but not including any insurer herein exempted\nfrom compliance with the requirement that it obtain a license to do\nbusiness.\n (11) "Board of directors" means the body having power and\nresponsibility for management and control of a corporation and the\nadvisory committee or similar body having such power in reference to a\nreciprocal insurer or Lloyds underwriters.\n (12) "Capital", when used in reference to a stock insurance company,\nmeans the aggregate par value of all classes of shares of capital stock\nissued and outstanding.\n (13) "Ceding insurer" means the insurer to which an assuming insurer\nis obligated.\n (14) "Charter" means the basic instrument, by whatever name called,\nprescribing the powers, purposes and organization of a corporation.\n (15) "Company" means a corporation.\n (16) "Control". Except for the purposes of article fifteen of this\nchapter, "control", including the terms "controlling", "controlled by"\nand "under common control with", means the possession, direct or\nindirect, of the power to direct or cause the direction of the\nmanagement and policies of an ins
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