§ 58-58-335. Definitions.
§ 58‑58‑335. Definitions.
As used in this Part:
(1) "Activeduty" means full‑time duty in the active military service of theUnited States and includes members of the reserve component (National Guard andReserve) while serving under published orders for active duty or full‑timetraining. "Active duty" does not include members of the reservecomponent who are performing active duty or active duty for training undermilitary calls or orders specifying periods of less than 31 calendar days.
(2) "Department ofDefense personnel" means all active duty service members and all civilianemployees, including nonappropriated fund employees and special governmentemployees, of the Department of Defense.
(3) "Door todoor" means a solicitation or sales method whereby an insurance producerproceeds randomly or selectively from household to household without priorspecific appointment.
(4) "Generaladvertisement" means an advertisement having as its sole purpose thepromotion of the reader's or viewer's interest in the concept of insurance orthe promotion of the insurer or the insurance producer.
(5) "Insuranceproducer" means a person required to be licensed under Article 33 of thisChapter to sell, solicit, or negotiate life insurance, including annuities.
(6) "Insurer"means an insurance company required to be licensed under this Chapter toprovide life insurance products, including annuities.
(7) "Known" or"knowingly" means, depending on its use in this Part, the insuranceproducer or insurer had actual awareness, or in the exercise of ordinary careshould have known, at the time of the act or practice complained of, that theperson solicited is or was:
a. A service member; or
b. A service memberwith a pay grade of E‑4 or below.
(8) "Lifeinsurance" means insurance coverage on human lives, including benefits ofendowment and annuities, and may include benefits in the event of death ordismemberment by accident and benefits for disability income; and unlessotherwise specifically excluded, includes individually issued annuities.
(9) "Militaryinstallation" means any federally owned, leased, or operated base,reservation, post, camp, building, or other facility to which service membersare assigned for duty, including barracks, transient housing, and familyquarters.
(10) "MyPay"means the Defense Finance and Accounting Service (DFAS) Web‑based systemthat enables service members to process certain discretionary pay transactionsor provide updates to personal information data elements without using paperforms.
(11) "Servicemember" means any active duty commissioned officer, any active dutywarrant officer, or any active duty enlisted member of the armed forces.
(12) "SGLI"means Servicemembers' Group Life Insurance, as authorized by 38 U.S.C. § 1965,et seq,
(13) "Side fund"means a fund or reserve that is part of or otherwise attached to a lifeinsurance policy (excluding individually issued annuities) by rider,endorsement, or other mechanism that accumulates premium or deposits withinterest or by other means. "Side fund" does not include:
a. Accumulated value orcash value or secondary guarantees provided by a universal life policy;
b. Cash values providedby a whole life policy which are subject to standard nonforfeiture law for lifeinsurance; or
c. A premium depositfund that:
1. Contains onlypremiums paid in advance that accumulate at interest.
2. Imposes no penaltyfor withdrawal.
3. Does not permitfunding beyond future required premiums.
4. Is not marketed orintended as an investment.
5. Does not carry acommission, either paid or calculated.
(14) "Specificappointment" means a prearranged appointment agreed upon by both partiesand definite as to place and time.
(15) "United Statesarmed forces" or "armed forces" means all components of theArmy, Navy, Air Force, Marine Corps, and Coast Guard.
(16) "VGLI"means Veterans' Group Life Insurance, as authorized by 38 U.S.C. § 1965, etseq. (2007‑535,s. 1.)