Bail-Out Provision

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Bail-Out Provision

In a variable annuity, a clause stating that the annuitant can make early withdrawals without penalty if the return on the annuity falls below a certain stated amount.
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51) The Court found the bailout provision significant (52) because it limited the extent of the Department of Justice's control over the affairs of the states that had successfully complied with the preclearance requirement.
Nobody believed that the Act's bailout provision meant what the Court said it did, but that is the interpretation that the Court ultimately upheld.
As an added measure of security, a bailout provision allows the annuity owner to withdraw the entire contract value of the annuity, without penalty, if the declared annual cap on the annual cap strategy falls below the contract's bailout cap.
13) The Court ultimately avoided the constitutional question by providing the utility district relief under the VRA's section 4 bailout provision, thus releasing NAMUDNO from the section 5 requirement.
34) This represents somewhat of a bailout provision for taxpayers who have not accounted for components of activities separately.
In addition, the series contains a two percentage point cap bailout provision in which customers can remove their money without surrender charges if the cap decreases by two percentage points or more.
29 /PRNewswire/ -- James Terry, Chief Public Advocate for the Consumers Rights League (CRL), released the following statement today expressing disappointment that the compromise bill before Congress does not protect taxpayers by repealing the previous bailout provision that ensures hundreds of millions of dollars for organizations like the Association of Community Organizations for Reform Now (ACORN) which is engaged in questionable practices and the potential misuse of public funds:
The Irish Government is opposing the challenge to Ireland's corporation tax rates in exchange for reform of the EU bailout provisions agreed to by Fianna Fail in the final months of the previous government.
Following the Senate passage of its bailout provisions, NCUA Board Chairman Michael Fryzel said, "Today's Senate approval of NCUA's Corporate Credit Union Stabilization Fund and accompanying provisions such as increased borrowing authority, is an unmistakable affirmation by lawmakers that the credit union industry can and will take care of its own problems.
Limitations of loss carryforwards: For businesses that have ownership changes under a restructuring plan required by a Treasury loan agreement or line of credit under the bailout provisions of the Emergency Economic Stabilization Act, P.
More insidiously, this legislation was passed because most attention was focused on the much larger financial bailout provisions.
The Minnesota Department of Commerce last year became concerned with certain GIC bailout provisions that allowed holders of contracts to turn them in before the scheduled maturity date without the kind of penalty or adjustment that would normally occur.