15 U.S.C. § 6764 - U.S. Code - Unannotated Title 15. Commerce and Trade § 6764. Definitions

(1)Business entity

The term “business entity” means a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity.

(2)Depository institution

The term “depository institution” has the meaning as in section 1813 of Title 12.

(3)Home State

The term “home State” means the State in which the insurance producer maintains its principal place of residence or business and is licensed to act as an insurance producer.

(4)Insurance

The term “insurance” means any product, other than title insurance or bail bonds, defined or regulated as insurance by the appropriate State insurance regulatory authority.

(5)Insurance producer

The term “insurance producer” means any insurance agent or broker, excess or surplus lines broker or agent, insurance consultant, limited insurance representative, and any other individual or entity that sells, solicits, or negotiates policies of insurance or offers advice, counsel, opinions or services related to insurance.

(6)Insurer

The term “insurer” has the meaning as in section 313(e)(2)(B) of Title 31.

(7)Principal place of business

The term “principal place of business” means the State in which an insurance producer maintains the headquarters of the insurance producer and, in the case of a business entity, where high-level officers of the entity direct, control, and coordinate the business activities of the business entity.

(8)Principal place of residence

The term “principal place of residence” means the State in which an insurance producer resides for the greatest number of days during a calendar year.

(9)State

The term “State” includes any State, the District of Columbia, any territory of the United States, and Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands.

(10)State law