New Annual Meeting Schedule Posted
A revised schedule has been posted to NOLHGA’s 2017 Annual Meeting website. The new schedule lists several new speakers, and we encourage anyone interested in attending the meeting to visit the site. The new schedule is in the “Meeting Resources” section.
NOLHGA’s 34th Annual Meeting will take place on October 18–19. Attendees can register for the meeting and make hotel reservations through the meeting website. Anyone having trouble making hotel reservations before the September 25 cut-off date should contact NOLHGA.
The Annual Meeting will be held in conjunction with an MPC meeting on October 17. There is no registration fee for the MPC meeting, but attendees must indicate on the registration form that they plan to attend the MPC meeting.
Please contact Holly Wilding at [email protected] if you have any questions about the Annual Meeting.
Staff Contact - Lincoln Memorial/Memorial Service Life Insurance Companies (Texas)Assumption Agreement Completed
An assumption reinsurance agreement has been successfully negotiated with Liberty Bankers and The Capitol Life Insurance Companies for the vast majority of the remaining in-force business of Lincoln Memorial Life. The opt-out package, which includes the assumption agreement, was sent to affected guaranty associations on September 12. The standard 30-day opt-out period is being used; the period ends on October 12, 2017. An application seeking approval for the transaction was filed on September 11 with the District Court of Travis County, Texas. The task force expects the initial closing to occur on November 1, 2017.
Funding for the transaction will be due October 25. Guaranty associations should be aware that although the opt-out package included a funding schedule, we anticipate sending out revised schedules periodically between now and early October to account for claims activity and changes in interest rates in the interim period before the closing.
Please feel free contact Task Force Chair Tad Rhodes, Task Force Counsel Joel Glover, or staff contact Paul Peterson with any questions.
Task Force Chair - Tad Rhodes; Staff Contact - Paul Peterson