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How to fill out the Surplus Note Form.DOC (SURPLU~1.DOC;1) - Delaware Captive insurance online
The Surplus Note Form is a crucial document for Delaware domestic captive insurance companies that facilitates borrowing agreements. This guide will provide clear instructions on each section of the form to ensure accurate completion, making it user-friendly for all individuals involved.
Follow the steps to accurately complete the Surplus Note Form.
- Press the ‘Get Form’ button to obtain the Surplus Note Form and open it in an editor for completion.
- Begin by entering the sum that the Donor Company promises to pay to the Captive Insurer. Fill in the blank with the total dollar amount in both numerical and written forms.
- Indicate the interest rate that will apply to the loan amount. Ensure to input the percentage in both numeric and symbolic form (e.g., 5%).
- Specify the date of execution for the Surplus Note by filling in the blank with the exact date.
- In Article I, record the amount Donor agrees to provide CAPTIVE and the time frame (in business days) for this transaction to occur after the note's execution.
- In Article II, detail the repayment terms, including the schedule for semi-annual payments and the final payment date, typically marking the tenth anniversary of the execution.
- Complete Article IV by listing the sources from which repayments will be made, ensuring to identify both general and specific accounts if needed.
- Review Article VI to ensure compliance with any conditions regarding additional debt obligations and account for any timelines that require notice to the Donor.
- Finalize by filling in the names and titles of the authorized representatives for both the CAPTIVE and the Donor, adding their respective signatures and dates.
- Once all fields are completed and verified, you can save changes, download the document, print it, or share it as necessary.
Complete your Surplus Note Form online today and ensure proper documentation for your captive insurance transactions.
A surplus line tax is a levy applied to insurance policies that are obtained through non-admitted insurers. These insurers provide coverage for risks that licensed companies cannot underwrite. When you are filling out the Surplus Note Form.DOC (SURPLU~1.DOC;1) - Delaware Captive ... - Captive Delawareinsurance, you may encounter details regarding this tax, which is essential for compliance.
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