reglab/housing_qa huggingface dataset:
IN Code § 27-5.1-2-5 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-5. Powers and Duties

Sec. 5. (a) A farm mutual insurance company has all the powers, rights, privileges, duties, and obligations of a company organized under IC 27-1-6 except where IC 27-1-6 is inconsistent with this article.(b) A farm mutual insurance company has the following:(1) The power to borrow money.(2) The ability to sue or be sued.(3) The power to make contracts of insurance or indemnity with:(A) a person;(B) a firm;(C) a public corporation;(D) a private corporation;(E) a board;(F) an association;(G) an estate; or(H) a trustee or legal representative of an estate.(4) The power to cede or obtain reinsurance from an insurance company legally operating in Indiana.(5) The power to participate with a financially stable insurance company in:(A) a plan for reinsurance; or(B) catastrophe protection.(6) The power to determine the qualifications and the manner by which to admit or withdraw policyholders.(7) The power to use a common seal, which the farm mutual insurance company may change or alter.(8) The power to purchase, lease, hold, and dispose of:(A) real property; and(B) personal property;in the farm mutual insurance company's name for use in carrying out the purposes of the farm mutual insurance company.(9) The power to classify risks according to the hazards involved.(10) The power to establish rates according to the classification of risk.(11) The power to determine the acceptability of risk and hazards insured.(12) The power to determine the cost of insurance issued by the farm mutual insurance company and the adjustment and payment of losses.(13) The power to determine the compensation of directors and officers of the farm mutual insurance company.(14) The power to require that directors and officers of the farm mutual insurance company be bonded in the performance of the duties of the directors and officers.(15) The power to adopt or amend bylaws and articles of incorporation of the farm mutual insurance company.(16) The power to adopt or amend policy forms and application forms used by the farm mutual insurance company.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-6 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-6. Exclusion of Companies

Sec. 6. A farm mutual insurance company with an annual direct written premium of more than ten million dollars ($10,000,000) may not function as a farm mutual insurance company and shall be regulated as a domestic mutual insurance company described in IC 27-1-6-15.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-7 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-7. Exemption From Indiana Insurance Laws

Sec. 7. Except as provided in section 8 of this chapter, a farm mutual insurance company that operates under this article is exempt from any other Indiana insurance law unless the law expressly states that the law is applicable to a farm mutual insurance company.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-8 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-8. Application of Indiana Insurance Laws

Sec. 8. The following provisions apply to standard companies and extended companies:(1) IC 27-1-3.(2) IC 27-1-3.1.(3) IC 27-1-5-3.(4) IC 27-1-7-14 through IC 27-1-7-16.(5) IC 27-1-7-21 through IC 27-1-7-23.(6) IC 27-1-9.(7) IC 27-1-10.(8) IC 27-1-13-3 through IC 27-1-13-4.(9) IC 27-1-13-6 through IC 27-1-13-9.(10) IC 27-1-15.6.(11) IC 27-1-18-2.(12) IC 27-1-20-1.(13) IC 27-1-20-4.(14) IC 27-1-20-6.(15) IC 27-1-20-9 through IC 27-1-20-11.(16) IC 27-1-20-14.(17) IC 27-1-20-19 through IC 27-1-20-21.3.(18) IC 27-1-20-23.(19) IC 27-1-20-30.(20) IC 27-1-20-35.(21) IC 27-1-22.(22) IC 27-4-1.(23) Except as provided in IC 27-6-1.1-6, IC 27-6-1.1-2.(24) IC 27-6-2.(25) IC 27-7-2.(26) IC 27-9.(27) IC 34-30-17.As added by P.L.129-2003, SEC.8. Amended by P.L.137-2006, SEC.14 and P.L.162-2006, SEC.47; P.L.81-2012, SEC.21.
IN Code § 27-5.1-2-9 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-9. Location of Insurance Business

Sec. 9. A farm mutual insurance company may engage in the business of insurance in any location in Indiana other than a first class city. However, a farm mutual insurance company may continue to insure property in a first class city in Indiana if the insurance policy under which the property is insured was originally issued before July 1, 2003, or if the insurance policy was originally issued before the city became a first class city.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-10 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-10. Annual Policyholder Meeting

Sec. 10. (a) A farm mutual insurance company shall hold an annual meeting of the policyholders of the farm mutual insurance company on the date, time, and location set forth in the articles of incorporation of the farm mutual insurance company. If the articles of incorporation do not specify the date, time, and location of the annual meeting, the meeting shall be held on the first Monday in April at the registered principal office of the farm mutual insurance company.(b) A quorum for purposes of an annual policyholder meeting must be defined in a farm mutual insurance company's articles of incorporation.(c) Each policyholder of a farm mutual insurance company is entitled to one (1) vote on any issue voted upon at a policyholder meeting.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-11 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-11. Board of Directors

Sec. 11. (a) A farm mutual insurance company shall elect a board of directors consisting of at least five (5) policyholders.(b) To be elected to the board of directors of a farm mutual insurance company, an individual must be the owner of an insurance policy issued by the farm mutual insurance company.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-12 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-12. Election of Director; Term of Office; Election of Officers; Annual Board Meeting

Sec. 12. (a) Unless a farm mutual insurance company's articles of incorporation specify otherwise, a director of a farm mutual insurance company must be elected at the farm mutual insurance company's annual policyholder meeting by the affirmative vote of a majority of:(1) the policyholders present and voting; and(2) the policyholders voting by proxy, if voting by proxy is allowed by the farm mutual insurance company's articles of incorporation.(b) The term of office of a director must be at least one (1) year but not more than five (5) years. A farm mutual insurance company's articles of incorporation may provide for the classification of directors into three (3) groups, and the terms of the directors may be staggered. A vacancy on the board of directors may be filled for the unexpired term through an appointment made by the remaining directors.(c) The board of directors of a farm mutual insurance company shall, by vote of a majority of the directors, elect the officers designated in the farm mutual insurance company's bylaws. The directors may also elect any additional officers that the directors determine are necessary. An officer elected under this subsection is not required to be a director.(d) The term of an officer elected under subsection (c) may not be less than one (1) year or more than three (3) years. An outgoing officer shall hold office until the officer's successor is either elected or selected and qualified.(e) The board of directors of a farm mutual insurance company shall hold a separate meeting of the board of directors immediately after the farm mutual insurance company's annual meeting.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-13 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-13. Articles of Incorporation; Amendment

Sec. 13. (a) Unless a farm mutual insurance company's articles of incorporation specify otherwise, the articles of incorporation of a farm mutual insurance company may be amended by an affirmative vote of two-thirds (2/3) of the farm mutual insurance company's policyholders who are voting in person or by proxy at any policyholder meeting if the policyholders are given at least thirty (30) days notice of:(1) the meeting; and(2) the subject matter of the proposed amendments.(b) After a farm mutual insurance company has adopted an amendment to the farm mutual insurance company's articles of incorporation, three (3) copies of the amendment must be filed with the commissioner.(c) The commissioner shall determine whether to approve an amendment specified under subsection (b) and, if the amendment is approved, shall return a copy of the filed amendment and a certificate of approval to the farm mutual insurance company.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-14 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-14. Bylaws; Amendment

Sec. 14. (a) Bylaws of a farm mutual insurance company may be amended by the farm mutual insurance company in accordance with the farm mutual insurance company's articles of incorporation. All amendments to the bylaws must be filed with the commissioner.(b) Bylaws of a farm mutual insurance company may not be inconsistent with this article, other applicable laws, or the farm mutual insurance company's articles of incorporation.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-15 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-15. Commissioner Filing Fee

Sec. 15. The commissioner may charge a farm mutual insurance company a reasonable fee, as provided in IC 27-1-3-15, for a filing under this article.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-16 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-16. Form and Rate Filing File and Use; Commissioner Disapproval; Judicial Review

Sec. 16. (a) A farm mutual insurance company may not deliver or issue for delivery an insurance policy or an endorsement or a rider to an insurance policy until a copy of the form and the rates charged for the insurance policy are filed with the commissioner.(b) A farm mutual insurance company may use any form or rate filed with the commissioner unless the commissioner notifies the farm mutual insurance company in writing that the form is disapproved not more than thirty (30) days after the commissioner's receipt of the rate or form filing. The commissioner may disapprove a rate or form for the following reasons:(1) An inconsistency with this article or another applicable state law.(2) A provision that is:(A) deceptive;(B) ambiguous; or(C) misleading.(c) If the commissioner disapproves a rate or form under this section, the commissioner shall notify the farm mutual insurance company of the reason that the rate or form was disapproved. The farm mutual insurance company may request a hearing before the commissioner under IC 4-21.5 concerning the disapproval.(d) A farm mutual insurance company may seek judicial review under IC 4-21.5-5 of the commissioner's final disapproval of a rate or form under this section.(e) The commissioner may charge a farm mutual insurance company a reasonable fee as provided in IC 27-1-3-15 for the filing of a rate or form.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-17 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-17. Commissioner Examination

Sec. 17. (a) The commissioner may examine the affairs of a farm mutual insurance company under IC 27-1-3.1.(b) The commissioner may take an action that may protect a policyholder's interest if the commissioner determines that a farm mutual insurance company conducts business in a manner that is:(1) contrary to law applying to a farm mutual insurance company; or(2) detrimental to policyholder interests.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-18 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-18. Unsafe Business Practice; Insufficient Assets; Commissioner Notice; Remedies; Court Proceedings; Injunction; Liquidation

Sec. 18. (a) If the commissioner determines from:(1) a statement filed by a farm mutual insurance company;(2) an examination under section 17 of this chapter; or(3) other information obtained by the commissioner;that a farm mutual insurance company is conducting business in an unsafe manner or that a farm mutual insurance company's assets are insufficient to justify continuing the business, the commissioner shall send written notice of the commissioner's concerns regarding the farm mutual insurance company to the officers and directors of the farm mutual insurance company.(b) Not more than thirty (30) days after receiving a notice under subsection (a), the farm mutual insurance company's officers and directors shall:(1) remedy; or(2) establish a plan to remedy;the commissioner's concerns.(c) If:(1) a farm mutual insurance company does not remedy or establish a plan to remedy the commissioner's concerns under subsection (b); or(2) the commissioner determines that the continuation of a farm mutual insurance company is not in the best interests of the farm mutual insurance company's policyholders;the commissioner shall institute proceedings in the Marion County circuit court to enjoin the farm mutual insurance company from conducting any further business transactions.(d) If the commissioner seeks a permanent injunction against a farm mutual insurance company under subsection (c), the commissioner shall also institute proceedings to settle and wind up the affairs of the farm mutual insurance company and liquidate and dissolve the farm mutual insurance company, as provided in IC 27-9.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-19 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-19. Application for Coverage; Policyholder Status

Sec. 19. (a) A person, including a person described in subsection (b), that has a risk that is insurable under this article in a territory in which a farm mutual insurance company operates may apply for insurance coverage with the farm mutual insurance company. If the farm mutual insurance company accepts the person as a policyholder, the person becomes a policyholder of the farm mutual insurance company and is entitled to all the rights and privileges of a policyholder.(b) Any of the following that own property within the territory of a farm mutual insurance company may apply for insurance, enter into an agreement for an insurance policy, and hold an insurance policy issued by a farm mutual insurance company:(1) A corporation.(2) An estate.(3) An association.(c) An officer, a trustee, a board member, or a legal representative of an entity described in subsection (b) may be recognized as acting for or on behalf of the entity for the purpose of membership.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-20 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-20. Insurance Producers

Sec. 20. A person that solicits or negotiates insurance on behalf of a farm mutual insurance company must be licensed as an insurance producer under IC 27-1-15.6.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-21 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-21. Merger; Plan; Policyholder Notice

Sec. 21. (a) Two (2) or more farm mutual insurance companies may merge into one (1) farm mutual insurance company upon approval of a merger plan by the policyholders of each farm mutual insurance company as provided in subsection (b).(b) Before a merger described in subsection (a) may take place:(1) the board of directors of each farm mutual insurance company must approve a merger plan; and(2) the merger plan must be approved by the affirmative vote of two-thirds (2/3) of the policyholders of each farm mutual insurance company who vote in person or by proxy.(c) Before a meeting at which a proposed merger under this section may be considered:(1) the policyholders of a farm mutual insurance company for which the merger is proposed must be provided, by first class mail:(A) written notice of the date, time, and location of the meeting;(B) written notice that a proposed merger will be discussed and voted on at the meeting; and(C) a copy or summary of the merger plan; and(2) a general notice stating:(A) the date, time, and location of the meeting; and(B) that a proposed merger or transfer will be discussed and voted on at the meeting;must be published in a newspaper of general circulation in the county in which the principal office of the farm mutual insurance company is located.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-23 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-23. Merger Plan Performance; Surviving Company

Sec. 23. (a) The commissioner may establish the time frame in which a farm mutual insurance company must perform the terms of a merger plan approved under section 22 of this chapter.(b) After a farm mutual insurance company that is a party to a merger under sections 21 and 22 of this chapter performs the terms of the merger plan, the surviving farm mutual insurance company shall file with the commissioner written notice of the surviving farm mutual insurance company's compliance with the merger plan.(c) The commissioner shall determine whether the terms of a merger plan are performed adequately by a farm mutual insurance company that is a party to a merger under sections 21 and 22 of this chapter. If the commissioner determines that the terms of the merger plan are met, the commissioner shall issue a certificate of merger to the surviving farm mutual insurance company.(d) The commissioner may charge a farm mutual insurance company the fee set forth in IC 27-1-3-15 for a filing made under this section.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-24 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-24. Certificate of Merger

Sec. 24. Upon the commissioner's issuance of a certificate of merger under section 23 of this chapter, the farm mutual insurance companies that are parties to the merger plan become a single surviving farm mutual insurance company. The separate existence of each farm mutual insurance company that is a party to the merger plan ceases upon the issuance of the certificate of merger.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-25 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-25. Notice of Contract to Manage or Control; Commissioner Determination; Managing General Agent

Sec. 25. (a) A person that intends to enter into a contract for the exclusive or dominant right to manage or control a farm mutual insurance company shall file notice of the contract with the commissioner at least thirty (30) days before entering into the contract.(b) The commissioner may approve a contract or proposed contract described in subsection (a) only if the contract is not detrimental to:(1) the policyholders of the farm mutual insurance company; or(2) the public.(c) If the commissioner disapproves a contract or proposed contract described in subsection (a), the commissioner shall provide written notice of the disapproval to the parties to the contract. A person that entered into a contract described in subsection (a) may not manage or control the farm mutual insurance company under the contract after receiving notice of the commissioner's disapproval of the contract.(d) A person that enters into a contract for the exclusive or dominant right to manage or control a farm mutual insurance company is the managing general agent (as defined in IC 27-1-33-4) of the farm mutual insurance company and shall comply with the requirements that apply to a managing general agent under IC 27.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-26 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-26. Violations of Law; Commissioner Orders

Sec. 26. If the commissioner determines, after notice and a hearing under IC 4-21.5, that a farm mutual insurance company has violated a provision of this article or a rule or order issued under this article, the commissioner may issue an order requiring the farm mutual insurance company to refrain from the unlawful practice or to take an affirmative action that the commissioner considers necessary to carry out the purposes of this article.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-27 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-27. Judicial Review

Sec. 27. (a) A decision, a determination, or an order of the commissioner under section 26 of this chapter is subject to judicial review under IC 4-21.5-5.(b) If a farm mutual insurance company does not seek judicial review of the commissioner's determination to issue an order under section 26 of this chapter less than thirty (30) days after the commissioner notifies the farm mutual insurance company of the commissioner's determination, the order is final.(c) If a farm mutual insurance company seeks judicial review of the commissioner's determination under section 26 of this chapter and the commissioner's determination is upheld, the order is final.As added by P.L.129-2003, SEC.8.
IN Code § 27-5.1-2-28 (2021)
2021 Indiana Code|Title 27. Insurance|Article 5.1. Farm Mutual Insurance Companies|Chapter 2. Farm Mutual Insurance Companies|27-5.1-2-28. Willful Violation; Penalties

Sec. 28. If a farm mutual insurance company willfully violates a provision of an order under section 26 of this chapter, the commissioner may do the following:(1) Impose a civil penalty on the farm mutual insurance company of not more than ten thousand dollars ($10,000).(2) Suspend or revoke the farm mutual insurance company's certificate of authority.(3) Institute proceedings to enjoin the farm mutual insurance company from conducting further business.(4) Institute proceedings to wind up the affairs of the farm mutual insurance company.As added by P.L.129-2003, SEC.8.