Sec. 38a-859. (Formerly Sec. 38-302). Association of insurers.
Sec. 38a-859. (Formerly Sec. 38-302). Association of insurers. To provide protection for policyowners, insureds, beneficiaries, annuitants, payees and assignees of
life insurance policies, health insurance policies, annuity contracts, and supplemental
contracts, subject to certain limitations, against failure in the performance of contractual
obligations due to the impairment of the insurer issuing such policies or contracts, an
association of insurers is created to enable the guaranty of payment of benefits and of
continuation of coverages. Members of the association are subject to assessment to
provide funds to carry out the purpose of sections 38a-858 to 38a-875, inclusive, and
the association is authorized to assist the commissioner in the prescribed manner in the
detection and prevention of insurer impairments.
(1972, P.A. 280, S. 2.)
History: Sec. 38-302 transferred to Sec. 38a-859 in 1991.