Florida Guaranty by Distributor to Corporation of Payment of Distributorship Funds by Assignee Due to Assignment

State:
Multi-State
Control #:
US-60391
Format:
Word; 
Rich Text
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Description

The guarantor consents and agrees that his direct and immediate liability under this guaranty shall be joint and several and he will render any payment or performance required under the Agreement upon demand if the distributor fails or refuses punctually to do so.
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FAQ

Guarantors can validly guarantee the liability of an 2022 assignee on a further assignment (whether that is an assignment back to the original tenant or a new tenant).

FIGA is partially funded by assets of insolvent insurers. Receivers marshal estate assets and reimburse FIGA for paid claims and administrative costs related to the FIGA's claim paying activities. The other source of funding is member company assessments.

The Life and Insurance Guaranty Association is funded by insurance companies through assessments and will pay claims if an insurance company becomes insolvent.

As nouns the difference between pledge and guaranty is that pledge is a solemn promise to do something while guaranty is (legal) an undertaking to answer for the payment of some debt, or the performance of some contract or duty, of another, in case of the failure of such other to pay or perform; a warranty; a security.

The Florida Insurance Guaranty Association (FIGA) establishes and maintains a service-oriented operation for processing covered claims of insolvent members. FIGA is a nonprofit corporation created by the Florida Legislature in 1970.

Any Beneficiary may assign, and create a security interest in, any or all of its rights hereunder to and for the benefit of any other Beneficiary or any transferee or assignee of its interest in the Transaction Documents.

Guarantee of collection means a loan guarantee under which the authority agrees to pay according to the terms of the guarantee agreement if the instrument is not paid when due and the participating lender has pursued all reasonable efforts relative to collection.

NOLHGA was founded in 1983 when the state guaranty associations determined that there was a need for a mechanism to help them coordinate their efforts to provide protection to policyholders when a life or health insurance company insolvency affects people in many states.

The purpose of the Florida Insurance Guaranty Association (FIGA) is to protect policyowners, insureds, beneficiaries, annuitants, payees, and assignees of life insurance policies, health insurance policies, annuity contracts, and supplemental contracts against the failure of an insurer issuing such policies or

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Florida Guaranty by Distributor to Corporation of Payment of Distributorship Funds by Assignee Due to Assignment