Volunteer Protection Act Of 1997
Definition of "Volunteer protection act of 1997"
Act in which volunteers of nonprofit organizations and government entities do not incur liability if they are acting within the scope of their volunteer activities, their actions do not result in reckless misconduct, gross negligence, and/or willful or criminal misconduct, and they have the proper license, if required. Protection is only for individual volunteers; there is no protection for organizations or paid members of organizations.
Popular Insurance Terms
Additional amount of surplus generated by an additional amount of capital to be included in the surplus above that required by the statutory requirements. This additional surplus is ...
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Irrevocable living trust (rights to make any changes are forfeited by the grantor permanently) in which the grantor forfeits control of all assets placed in the trust. However, the grantor ...
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Difference between the yield on earning assets and the cost of interest-bearing liabilities. ...
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Endowment period of time, in life insurance, at which the face amount of the policy is payable to the insured. ...
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