Section 9-402 - Purpose of subtitle.
§ 9-402. Purpose of subtitle.
Subject to certain limitations, the purpose of this subtitle is to protect residents who are policyowners, insureds, beneficiaries, annuitants, payees, and assignees of life insurance policies, health insurance policies, annuity contracts, and supplemental contracts against failure in the performance of contractual obligations due to the impairment of the insurer that issued the policies or contracts.
[An. Code 1957, art. 48A, § 521; 1996, ch. 11.]