{"identifier":"/us/usc/t26/s4372","title":26,"num":"\u00a7\u202f4372.","heading":"Definitions","text":"\u00a7\u202f4372.\nDefinitions\n(a)\nForeign insurer or reinsurer\nFor purposes of section 4371, the term \u201cforeign insurer or reinsurer\u201d means an insurer or reinsurer who is a nonresident alien individual, or a foreign partnership, or a foreign corporation. The term includes a nonresident alien individual, foreign partnership, or foreign corporation which shall become bound by an obligation of the nature of an indemnity bond. The term does not include a foreign government, or municipal or other corporation exercising the taxing power.\n(b)\nPolicy of casualty insurance\nFor purposes of section 4371(1), the term \u201cpolicy of casualty insurance\u201d means any policy (other than life) or other instrument by whatever name called whereby a contract of insurance is made, continued, or renewed.\n(c)\nIndemnity bond\nFor purposes of this chapter, the term \u201cindemnity bond\u201d means any instrument by whatever name called whereby an obligation of the nature of an indemnity, fidelity, or surety bond is made, continued, or renewed. The term includes any bond for indemnifying any person who shall have become bound or engaged as surety, and any bond for the due execution or performance of any contract, obligation, or requirement, or the duties of any office or position, and to account for money received by virtue thereof, where a premium is charged for the execution of such bond.\n(d)\nInsured\nFor purposes of section 4371(1), the term \u201cinsured\u201d means\u2014\n(1) a domestic corporation or partnership, or an individual resident of the United States, against, or with respect to, hazards, risks, losses, or liabilities wholly or partly within the United States, or\n(2) a foreign corporation, foreign partnership, or nonresident individual, engaged in a trade or business within the United States, against, or with respect to, hazards, risks, losses, or liabilities within the United States.\n(e)\nPolicy of life, sickness, or accident insurance, or annuity contract\nFor the purpose of section 4371(2), the term \u201cpolicy of life, sickness, or accident insurance, or annuity contract\u201d means any policy or other instrument by whatever name called whereby a contract of insurance or an annuity contract is made, continued, or renewed with respect to the life or hazards to the person of a citizen or resident of the United States.\n(f)\nPolicy of reinsurance\nFor the purpose of section 4371(3), the term \u201cpolicy of reinsurance\u201d means any policy or other instrument by whatever name called whereby a contract of reinsurance is made, continued, or renewed against, or with respect to, any of the hazards, risks, losses, or liabilities covered by contracts taxable under paragraph (1) or (2) of section 4371.","url":"https://projectusc.org/usc/t26/s4372.html","content":[{"t":"sec","id":"/us/usc/t26/s4372","children":[{"t":"num","text":"\u00a7\u202f4372."},{"t":"heading","text":"Definitions"},{"t":"subsec","id":"/us/usc/t26/s4372/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Foreign insurer or reinsurer"},{"t":"content","children":[{"t":"p","text":"For purposes of section 4371, the term \u201cforeign insurer or reinsurer\u201d means an insurer or reinsurer who is a nonresident alien individual, or a foreign partnership, or a foreign corporation. The term includes a nonresident alien individual, foreign partnership, or foreign corporation which shall become bound by an obligation of the nature of an indemnity bond. The term does not include a foreign government, or municipal or other corporation exercising the taxing power.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t26/s4372/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Policy of casualty insurance"},{"t":"content","children":[{"t":"p","text":"For purposes of section 4371(1), the term \u201cpolicy of casualty insurance\u201d means any policy (other than life) or other instrument by whatever name called whereby a contract of insurance is made, continued, or renewed.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t26/s4372/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Indemnity bond"},{"t":"content","children":[{"t":"p","text":"For purposes of this chapter, the term \u201cindemnity bond\u201d means any instrument by whatever name called whereby an obligation of the nature of an indemnity, fidelity, or surety bond is made, continued, or renewed. The term includes any bond for indemnifying any person who shall have become bound or engaged as surety, and any bond for the due execution or performance of any contract, obligation, or requirement, or the duties of any office or position, and to account for money received by virtue thereof, where a premium is charged for the execution of such bond.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t26/s4372/d","children":[{"t":"num","text":"(d)"},{"t":"heading","text":"Insured"},{"t":"chapeau","text":"For purposes of section 4371(1), the term \u201cinsured\u201d means\u2014"},{"t":"para","id":"/us/usc/t26/s4372/d/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" a domestic corporation or partnership, or an individual resident of the United States, against, or with respect to, hazards, risks, losses, or liabilities wholly or partly within the United States, or","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t26/s4372/d/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" a foreign corporation, foreign partnership, or nonresident individual, engaged in a trade or business within the United States, against, or with respect to, hazards, risks, losses, or liabilities within the United States.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t26/s4372/e","children":[{"t":"num","text":"(e)"},{"t":"heading","text":"Policy of life, sickness, or accident insurance, or annuity contract"},{"t":"content","children":[{"t":"p","text":"For the purpose of section 4371(2), the term \u201cpolicy of life, sickness, or accident insurance, or annuity contract\u201d means any policy or other instrument by whatever name called whereby a contract of insurance or an annuity contract is made, continued, or renewed with respect to the life or hazards to the person of a citizen or resident of the United States.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t26/s4372/f","children":[{"t":"num","text":"(f)"},{"t":"heading","text":"Policy of reinsurance"},{"t":"content","children":[{"t":"p","text":"For the purpose of section 4371(3), the term \u201cpolicy of reinsurance\u201d means any policy or other instrument by whatever name called whereby a contract of reinsurance is made, continued, or renewed against, or with respect to, any of the hazards, risks, losses, or liabilities covered by contracts taxable under paragraph (1) or (2) of section 4371.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}