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state of domicile

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state of domicile n. the state in which a person has his/her permanent residence or intends to make his/her residence, as compared to where the person is living temporarily. Domicile depends on intent, location of a home where a person regularly sleeps, and some conduct. A corporation's state of domicile is the state where the corporation is incorporated. (See: domicile, resident)



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The regulator in the troubled insurer's state of domicile may place the company under supervision or take other action to conserve the company's assets.
Coverage can be obtained on both an admitted and a nonadmitted basis, depending on the class of business, state of domicile and carrier.
Since federal tax law respects the characterization of property under the relevant state law of the state of domicile, (6) a client's tax situation may differ from one community property state to another.
 
 
 
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