face-amount certificate company (Meaning)
Wordnet
face-amount certificate company (n)
a regulated investment company that pays a stated amount to certificate holders on a stated maturity date
Synonyms & Antonyms of face-amount certificate company
No Synonyms and anytonyms found
face-amount certificate company Sentence Examples
- The face-amount certificate company granted a secured loan to the borrower.
- The face-amount certificate company was subject to state insurance laws and regulations.
- In the United States, face-amount certificate companies were primarily active from the 1920s to the 1950s.
- Face-amount certificate companies were often associated with industrial loan corporations and Morris Plan banks.
- The face-amount certificate company was required to maintain a reserve for the payment of benefits.
- The face-amount certificate company was prohibited from using the proceeds of the sale of certificates for any purpose other than the payment of benefits and expenses.
- The face-amount certificate company was required to file annual financial statements with the state insurance department.
- Face-amount certificate companies were sometimes criticized for their high sales commissions and other fees.
- The face-amount certificate company was required to make regular payments to the certificate holder.
- The face-amount certificate company was required to provide the certificate holder with a certificate of insurance.
FAQs About the word face-amount certificate company
a regulated investment company that pays a stated amount to certificate holders on a stated maturity date
No synonyms found.
No antonyms found.
The face-amount certificate company granted a secured loan to the borrower.
The face-amount certificate company was subject to state insurance laws and regulations.
In the United States, face-amount certificate companies were primarily active from the 1920s to the 1950s.
Face-amount certificate companies were often associated with industrial loan corporations and Morris Plan banks.
