§ 9-402. Purpose of subtitle

Latest version.

Subject to certain limitations, the purpose of this subtitle is to protect persons specified in § 9-403(a) through (f) of this subtitle who are policyowners, contract owners, certificate holders, beneficiaries, payees, and assignees of life insurance policies, health insurance policies, annuity contracts, and supplemental contracts specified in § 9-403(g) of this subtitle against failure in the performance of contractual obligations due to the impairment or insolvency of the insurer that issued the policies or contracts.

HISTORY: An. Code 1957, art. 48A, § 521; 1996, ch. 11; 2012, chs. 633, 634.

                    
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