Sec. 38a-859. (Formerly Sec. 38-302). Association of insurers. - Connecticut Statutes

      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.