carrier, participating

  • A carrier operating under a plan whereby the policyholders participate in the profits of operation. In general, mutual companies are participating carriers.

    Internal Revenue Service 1

1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).