For purposes of the Insurers Investment Act: (1) Admitted assets means the investments authorized under the act and stated at values at which they are permitted to be reported in the insurer's financial statements filed with the director pursuant to section 44-322;
(2) Business entity means a sole proprietorship, corporation, limited liability company, association, partnership, limited liability partnership, joint-stock company, joint venture, mutual fund, trust, joint tenancy, or other similar form of business organization, whether organized for profit or not for profit;
(3) Clearing corporation means The Depository Trust Company or any other clearing agency registered with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, section 17A, Euro-clear Clearance System Limited, and CEDEL S. A.;
(4) Custodian bank means a bank, trust company, or branch of a bank or trust company that is acting as custodian and is supervised and examined by the state or federal authority having supervision over the bank or trust company or only with respect to an insurer's foreign investments by the regulatory authority having supervision over banks or trust companies in the jurisdiction in which the bank, trust company, or branch is located. Custodian bank shall include Euro-clear Clearance System Limited and CEDEL S. A. acting as custodians;
(5) Direct when used in connection with the term obligation means that the designated obligor is primarily liable on the instrument representing the obligation;
(6) Director means the Director of Insurance;
(7) Insurer is defined as provided in section 44-103, and unless the context otherwise requires, insurer means domestic insurer;
(8) Mortgage means a consensual interest created by a real estate mortgage, a trust deed on real estate, or a similar instrument;
(9) Obligation means a bond, debenture, note, or other evidence of indebtedness;
(10) Policyholders surplus means the amount obtained by subtracting from the admitted assets (a) actual liabilities and (b) any and all reserves which by law must be maintained. In the case of a stock insurer, the policyholders surplus also includes the paid-up and issued capital stock;
(11) Securities Valuation Office means the Securities Valuation Office of the National Association of Insurance Commissioners or any successor office established by the National Association of Insurance Commissioners; and
(12) State means any state of the United States, the District of Columbia, or any territory organized by Congress.
