reglab/housing_qa huggingface dataset:
IN Code § 27-11-6-4 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 6. Contractual Benefits|27-11-6-4. Issuance of Certificate to Owner of Benefit Contract

Sec. 4. Every society authorized to do business in this state shall issue to each owner of a benefit contract a certificate specifying the amount of benefits provided. The certificate, together with any riders or endorsements attached to the certificate, the laws of the society, the application for membership, the application for insurance and declaration of insurability, if any, signed by the applicant, and all amendments to each constitutes the benefit contract as of the date of issuance between the society and the owner, and the certificate shall so state. A copy of the application for insurance and declaration of insurability, if any, shall be endorsed upon or attached to the certificate. All statements on the application shall be representations and not warranties. Any waiver of this provision shall be void.As added by P.L.262-1985, SEC.1.
IN Code § 27-11-6-5 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 6. Contractual Benefits|27-11-6-5. Effect of Changes, Additions, or Amendments to Laws of Society Upon Owner and Beneficiaries of Benefit Contract

Sec. 5. Any changes, additions, or amendments to the laws of the society duly made or enacted subsequent to the issuance of the certificate shall bind the owner and the beneficiaries and shall govern and control the benefit contract in all respects as though the changes, additions, or amendments had been made before and were in force at the time of the application for insurance, except that no change, addition, or amendment shall destroy or diminish benefits that the society contracted to give the owner as of the date of issuance.As added by P.L.262-1985, SEC.1.
IN Code § 27-11-6-6 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 6. Contractual Benefits|27-11-6-6. Issuance of Benefit Contract Upon Life of a Minor

Sec. 6. Any person upon whose life a benefit contract is issued before attaining the age of majority shall be bound by the terms of the application and certificate and by all the laws and rules of the society to the same extent as though the age of majority had been attained at the time of application.As added by P.L.262-1985, SEC.1.
IN Code § 27-11-6-7 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 6. Contractual Benefits|27-11-6-7. Payment of Owner's Equitable Proportion of Deficiency Where Society's Reserves Are Impaired

Sec. 7. A society shall provide in its laws that if its reserves as to all or any class of certificates become impaired its board of directors or corresponding body may require that there shall be paid by the owner to the society the amount of the owner's equitable proportion of such deficiency as ascertained by its board, and that, if the payment is not made, either:(1) it shall stand as an indebtedness against the certificate and draw interest not to exceed the rate specified for certificate loans under the certificates; or(2) instead of or in combination with subdivision (1), the owner may accept a proportionate reduction in benefits under the certificate.The society may specify the manner of the election and which alternative is to be presumed if no election is made.As added by P.L.262-1985, SEC.1.
IN Code § 27-11-6-8 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 6. Contractual Benefits|27-11-6-8. Copies of Documents as Evidence of Terms and Conditions

Sec. 8. Copies of any of the documents mentioned in this chapter, certified by the secretary or corresponding officer of the society, shall be received in evidence of the terms and conditions thereof.As added by P.L.262-1985, SEC.1.
IN Code § 27-11-6-9 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 6. Contractual Benefits|27-11-6-9. Filing of Copy of Certificate With Commissioner; Contents of Certificate

Sec. 9. A certificate shall not be delivered or issued for delivery in Indiana unless a copy of the form has been filed with the commissioner in the manner provided for like policies issued by life insurers in Indiana. Every life, accident, health, or disability insurance certificate and every annuity certificate issued after December 31, 1986, shall meet the standard contract provision requirements not inconsistent with this chapter for like policies issued by life insurers in this state, except that a society may provide for a grace period for payment of premiums of one (1) full month in its certificate. The certificate shall also contain a provision stating the amount of premiums that are payable under the certificate and a provision reciting or setting forth the substance of any sections of the society's laws or rules in force at the time of issuance of the certificate that, if violated, will result in the termination or reduction of benefits payable under the certificate. If the laws of the society provide for expulsion or suspension of a member, the certificate shall also contain a provision that any member so expelled or suspended, except for nonpayment of a premium or within the contestable period for material misrepresentation in the application for membership or insurance, shall have the privilege of maintaining the certificate in force by continuing payment of the required premium.As added by P.L.262-1985, SEC.1. Amended by P.L.2-1995, SEC.110.
IN Code § 27-11-6-10 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 6. Contractual Benefits|27-11-6-10. Benefit Contract Issued on Life of a Minor; Transfer of Control of Ownership to the Insured

Sec. 10. Benefit contracts issued on the lives of persons below the society's minimum age for adult membership may provide for transfer of control of ownership to the insured at an age specified in the certificate. A society may require approval of an application for membership in order to effect this transfer and may provide in all other respects for the regulation, government, and control of certificates and all rights, obligations, and liabilities incident to a benefit contract. Ownership rights before a transfer shall be specified in the certificate.As added by P.L.262-1985, SEC.1.
IN Code § 27-11-6-11 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 6. Contractual Benefits|27-11-6-11. Assignment of Benefit Contracts

Sec. 11. A society may specify the terms and conditions on which benefit contracts may be assigned.As added by P.L.262-1985, SEC.1.
IN Code § 27-11-6-12 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 6. Contractual Benefits|27-11-6-12. Cash Surrender Value, Loans, or Other Options

Sec. 12. (a) For certificates issued before January 1, 1987, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan, or other option granted shall comply with the provisions of law applicable on December 31, 1985.(b) For certificates issued after December 31, 1986, for which reserves are computed on the Commissioner's 1941 Standard Ordinary Mortality Table, the Commissioner's 1941 Standard Industrial Table, the Commissioner's 1958 Standard Ordinary Mortality Table, the Commissioner's 1980 Standard Mortality Table, the Commissioner's 2017 Standard Mortality Table, or any more recent table made applicable to life insurers and approved by the commissioner in rules adopted under IC 4-22-2, every paid-up nonforfeiture benefit and the amount of any cash surrender value, loan, or other option granted shall not be less than the corresponding amount ascertained in accordance with the laws of this state applicable to life insurers issuing policies containing like benefits based upon the tables.As added by P.L.262-1985, SEC.1. Amended by P.L.124-2018, SEC.85.
IN Code § 27-11-7-1 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 7. Financial Matters|27-11-7-1. Investments

Sec. 1. A society shall invest its funds only in such investments as are authorized by the laws of this state for the investment of assets of life insurers and subject to the limitations thereon. Any foreign or alien society permitted or seeking to do business in this state that invests its funds in accordance with the laws of the state, district, territory, country, or province in which it is incorporated shall be held to meet the requirements of this section for the investment of funds.As added by P.L.262-1985, SEC.1.
IN Code § 27-11-7-2 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 7. Financial Matters|27-11-7-2. Financial Affairs of Fraternal Benefit Societies

Sec. 2. (a) All assets shall be held, invested, and disbursed for the use and benefit of the society, and no member or beneficiary shall have or acquire individual rights in the assets or become entitled to any apportionment on the surrender of any part of the assets, except as provided in the benefit contract.(b) A society may create, maintain, invest, disburse, and apply any special fund or funds necessary to carry out any purpose permitted by the laws of the society.(c) A society may, pursuant to resolution of its supreme governing body, establish and operate one (1) or more separate accounts and issue contracts on a variable basis, subject to the provisions of law regulating life insurers establishing accounts and issuing contracts. To the extent the society considers it necessary in order to comply with any applicable federal or state laws or any rules issued under the applicable federal or state laws, the society may:(1) adopt special procedures for the conduct of the business and affairs of a separate account;(2) for persons having beneficial interest in the account, provide special voting and other rights, including without limitation special rights and procedures relating to investment policy, investment advisory services, selection of certified public accountants, and selection of a committee to manage the business and affairs of the account; and(3) issue contracts on a variable basis to which IC 27-11-6-5 and IC 27-11-6-7 shall not apply.As added by P.L.262-1985, SEC.1. Amended by P.L.136-2018, SEC.202.
IN Code § 27-11-7-3 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 7. Financial Matters|27-11-7-3. Law Governing Financial Matters

Sec. 3. Except as provided in this article, societies shall be governed by this article and by IC 27-1-2, IC 27-1-3, and IC 27-9, and shall be exempt from all other provisions of this title unless they be expressly designated in this title or unless it is specifically made applicable by this article.As added by P.L.262-1985, SEC.1. Amended by P.L.136-2018, SEC.203.
IN Code § 27-11-7-4 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 7. Financial Matters|27-11-7-4. Designation as Charitable or Benevolent Institution

Sec. 4. Every society organized or licensed under this article is declared to be a charitable and benevolent institution, and all of its funds shall be exempt from all and every state, county, district, municipal, and school tax other than taxes on real estate not occupied by a society in carrying on its business.As added by P.L.262-1985, SEC.1.
IN Code § 27-11-8-1 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 8. Regulation|27-11-8-1. Standards for Valuation of Certificates; Maintenance of Excess Reserves on Certificates

Sec. 1. (a) Standards of valuation for certificates issued before January 1, 1987, shall be those provided by the laws applicable on December 31, 1985.(b) The minimum standards of valuation for certificates issued after December 31, 1986, shall be based on the following tables:(1) For certificates of life insurance─the Commissioner's 1941 Standard Ordinary Mortality Table, the Commissioner's 1941 Standard Industrial Mortality Table, the Commissioner's 1958 Standard Ordinary Mortality Table, the Commissioner's 1980 Standard Ordinary Mortality Table, the Commissioner's 2017 Standard Mortality Table, or any more recent table made applicable to life insurers and approved by the commissioner in rules adopted under IC 4-22-2.(2) For annuity and pure endowment certificates, total and permanent disability benefits, accidental death benefits, and noncancellable accident and health benefits─such tables as are authorized for use by life insurers in this state.(c) All of the above shall be under valuation methods and standards (including interest assumptions) in accordance with the laws of this state applicable to life insurers issuing policies containing like benefits.(d) The commissioner may accept other standards for valuation if the commissioner finds that the reserves produced will not be less in the aggregate than reserves computed in accordance with the minimum valuation standard prescribed in this section. The commissioner may vary the standards of mortality applicable to all benefit contracts on substandard lives or other extra hazardous lives by any society authorized to do business in this state.(e) Any society, with the consent of the commissioner of the state of domicile of the society and under the conditions, if any, that the commissioner may impose, may establish and maintain reserves on its certificates in excess of the reserves required thereunder, but the contractual rights of any benefit member shall not be affected thereby.As added by P.L.262-1985, SEC.1. Amended by P.L.124-2018, SEC.86.
IN Code § 27-11-8-2 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 8. Regulation|27-11-8-2. Annual Financial Statement

Sec. 2. (a) Reports shall be filed in accordance with this section.(b) Every society transacting business in this state shall annually, before March 1, unless for cause shown the time has been extended by the commissioner:(1) file with the commissioner:(A) a true statement of its financial condition, transactions, and affairs for the preceding calendar year on the Annual Statement Blank for fraternal benefit societies; and(B) any additional information required by the commissioner; and(2) pay a fee of twenty-five dollars ($25) for filing the statement.(c) As part of the annual statement required in this section, each society shall, before March 1, file with the commissioner a valuation of its certificates in force on December 31 last preceding, provided the commissioner may for cause shown, extend the time for filing the valuation for not more than two (2) calendar months. The valuation shall be done in accordance with the standards specified in section 1 of this chapter. The valuation and underlying data shall be certified by a qualified actuary or, at the expense of the society, verified by the actuary of the department of insurance of the state of domicile of the society.(d) A society neglecting to file the annual statement in the form and within the time provided by this section shall forfeit one hundred dollars ($100) for each day during which the neglect continues, and, upon notice by the commissioner to that effect, its authority to do business in Indiana shall cease while the default continues.As added by P.L.262-1985, SEC.1. Amended by P.L.31-1988, SEC.24; P.L.124-2018, SEC.87.
IN Code § 27-11-8-3 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 8. Regulation|27-11-8-3. Renewal of License; Fee

Sec. 3. The authority of all societies licensed may be renewed annually, but in all cases to terminate on April 30. However, a license shall continue in full force and effect until the new license is issued or specifically refused. For each license or renewal, the society shall pay the commissioner a fee of twenty-five dollars ($25). A duly certified copy or duplicate of the license is prima facie evidence that the licensee is a fraternal benefit society within the meaning of this article.As added by P.L.262-1985, SEC.1. Amended by P.L.31-1988, SEC.25.
IN Code § 27-11-8-4 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 8. Regulation|27-11-8-4. Examination of Societies Transacting or Applying for Admission to Transact Business in Indiana; Expenses

Sec. 4. (a) The commissioner or any person the commissioner may appoint may examine any domestic, foreign, or alien society transacting or applying for admission to transact business in Indiana in the same manner as authorized for examination of domestic, foreign, or alien insurers. Requirements of notice and an opportunity to respond before findings are made public as provided in the laws regulating insurers shall also be applicable to the examination of societies.(b) The expense of each examination and of each valuation, including compensation and actual expense of examiners, shall be paid by the society examined or whose certificates are valued, upon statements furnished by the commissioner.As added by P.L.262-1985, SEC.1.
IN Code § 27-11-8-5 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 8. Regulation|27-11-8-5. Requirements for Issuance of License to Transact Business in Indiana

Sec. 5. No foreign or alien society shall transact business in Indiana without a license issued by the commissioner. Any society desiring admission to Indiana shall comply substantially with the requirements and limitations of this article applicable to domestic societies. Any society may be licensed to transact business in Indiana upon filing with the commissioner:(1) a certified copy of its articles of incorporation;(2) a copy of its bylaws, certified by its secretary or corresponding officer;(3) a power of attorney to the commissioner as prescribed in IC 27-11-9-1;(4) a statement of its business under oath of its president and secretary or corresponding officers in a form prescribed by the commissioner, verified by an examination made by the supervising insurance official of its home state or other state, territory, province, or country and satisfactory to the commissioner;(5) certification from the proper official of its home state, territory, province, or country that the society is legally incorporated and licensed to transact business in that state, territory, province, or country;(6) copies of its certificate forms; and(7) such other information as the commissioner considers necessary;and upon a showing that its assets are invested in accordance with this chapter.As added by P.L.262-1985, SEC.1. Amended by P.L.136-2018, SEC.204.
IN Code § 27-11-8-7 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 8. Regulation|27-11-8-7. Noncompliance by Foreign or Alien Society; Suspension, Revocation, or Refusal of License

Sec. 7. (a) When the commissioner upon investigation finds that a foreign or alien society transacting or applying to transact business in Indiana:(1) has exceeded its powers;(2) has failed to comply with any of the provisions of this chapter;(3) is not fulfilling its contracts in good faith; or(4) is conducting its business fraudulently or in a manner hazardous to its members or creditors or the public;the commissioner shall in writing notify the society of the deficiency or deficiencies, state the reasons for the commissioner's dissatisfaction, and require that the deficiency or deficiencies that exist be corrected.(b) After the notice, the society shall have thirty (30) days in which to comply with the commissioner's request for correction, and, if the society fails to comply, the commissioner shall notify the society of the findings of noncompliance and require the society to show cause on a date named why its license should not be suspended, revoked, or refused. If on that date the society does not present good and sufficient reason why its authority to do business in Indiana should not be suspended, revoked, or refused, the commissioner may suspend or refuse the license of the society to do business in Indiana until satisfactory evidence is furnished to the commissioner that the suspension or refusal should be withdrawn, or the commissioner may revoke the authority of the society to do business in Indiana.(c) Nothing contained in this section shall be taken or construed as preventing any society from continuing in good faith all contracts made in Indiana during the time the society was legally authorized to transact business in Indiana.As added by P.L.262-1985, SEC.1.
IN Code § 27-11-8-8 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 8. Regulation|27-11-8-8. Application or Petition for Injunction

Sec. 8. No application or petition for injunction against any domestic, foreign, or alien society, or lodge shall be recognized in any court of Indiana unless made by the attorney general upon request of the commissioner.As added by P.L.262-1985, SEC.1.
IN Code § 27-11-8-9 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 8. Regulation|27-11-8-9. Licensing of Insurance Producers of Societies

Sec. 9. (a) Insurance producers of societies shall be licensed in accordance with the laws regulating the licensing and the revocation, suspension, or termination of license of resident and nonresident insurance producers.(b) No examination or license shall be required of any regular salaried officer, employee, or member of a licensed society who devotes substantially all of the officer's, employee's or member's services to activities other than the solicitation of fraternal insurance contracts from the public and who receives for the solicitation of those contracts no commission or other compensation directly dependent upon the amount of business obtained.As added by P.L.262-1985, SEC.1. Amended by P.L.178-2003, SEC.83.
IN Code § 27-11-8-10 (2021)
2021 Indiana Code|Title 27. Insurance|Article 11. Fraternal Benefit Societies|Chapter 8. Regulation|27-11-8-10. Unfair Competition; Unfair or Deceptive Acts or Practices

Sec. 10. Every society authorized to do business in Indiana shall be subject to IC 27-4-1 relating to unfair methods of competition and unfair or deceptive acts or practices, provided that nothing in those provisions shall be construed as applying to or affecting the right of any society to determine its eligibility requirements for membership or be construed as applying to or affecting the offering of benefits exclusively to members or persons eligible for membership in the society by a subsidiary corporation or affiliated organization of the society.As added by P.L.262-1985, SEC.1.