Definitions.

The following words and terms, when used in this chapter, have the following meanings, unless the context clearly indicates otherwise:

Act—The act of December 20, 1983 (P. L. 260, No. 72) (63 P. S. § § 1601—1608).

Active officer—An individual designated by the corporation as an officer of record for the public adjuster agency license.

Active partner—An individual designated by the partnership as a partner of record for the public adjuster agency license.

Business day—A day other than a Saturday, Sunday or holiday.

Commissioner—The Insurance Commissioner of the Commonwealth.

Execution date—The date that a public adjuster contract has been signed by all parties.

Insurance company—An insurance company, association or exchange authorized to transact insurance business in this Commonwealth.

Resident—A person whose business address or legal residence is located in this Commonwealth.