| | | F.__To create the Interstate Insurance Product Regulation | | Commission; and |
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| | | G.__To perform these and such other related functions as may | | be consistent with the state regulation of the business of | | insurance. |
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| | | §2473.__Definitions -- Article 2 |
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| | | As used in this chapter, unless the context otherwise | | indicates, the following terms have the following meanings. |
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| | | 1.__Advertisement.__"Advertisement" means any material | | designed to create public interest in a product or induce the | | public to purchase, increase, modify, reinstate, borrow on, | | surrender, replace or retain a policy, as more specifically | | defined in the rules and operating procedures of the commission. |
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| | | 2.__Bylaws.__"Bylaws" means the bylaws established by the | | commission for its governance or for directing or controlling the | | commission's actions or conduct. |
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| | | 3.__Compacting state.__"Compacting state" means a state that | | has enacted the compact and that has not withdrawn pursuant to | | section 2485, subsection 1 or been terminated pursuant to section | | 2485, subsection 2. |
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| | | 4.__Commission.__"Commission" means the Interstate Insurance | | Product Regulation Commission established by the compact. |
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| | | 5.__Commissioner.__"Commissioner" means the chief insurance | | regulatory official of a compacting state, including, but not | | limited to, commissioner, superintendent, director or | | administrator. |
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| | | 6.__Domiciliary state.__"Domiciliary state" means the state in | | which an insurer is incorporated or organized or, in the case of | | an alien insurer, its state of entry. |
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| | | 7.__Insurer.__"Insurer" means an entity licensed by a state to | | issue contracts of insurance for any of the lines of insurance | | covered by the compact. |
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| | | 8.__Management committee.__"Management committee" means the | | management committee established under section 2476, subsection | | 5. |
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| | | 9.__Member.__"Member" means the person chosen by a compacting | | state as its representative to the commission, or the member's | | designee. |
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