reglab/housing_qa huggingface dataset:
IN Code § 27-8-3-11 (2021)
2021 Indiana Code|Title 27. Insurance|Article 8. Life, Accident, and Health|Chapter 3. Mutual Life and Accident─formation|27-8-3-11. Reserve Emergency Fund

Sec. 11. Every such accident insurance corporation, association, or society shall accumulate and maintain a reserve emergency fund of at least two thousand dollars ($2,000). Such fund, if not already accumulated, shall be accumulated by every such corporation, association, or society existing on March 9, 1897, by September 9, 1897, and by every corporation, association, or society organized under this chapter within six (6) months of the completion of its organization and the receipt of its certificate of authority to transact business in this state, and every corporation, association, or society subject to the provisions of this chapter shall add to such emergency fund thereafter two and one-half percent (2 1/2%) of the amount realized from every premium, assessment, or periodical call until such fund shall be equal to the amount of two dollars ($2) for every five thousand dollars ($5,000) of insurance in force. Such emergency fund, or any part thereof, may be used for the payment of death and indemnity claims; provided, that if the amount of such fund be thereby reduced below the amount contemplated in this chapter, the amount by which such fund is reduced be made up and restored within six (6) months thereafter. Such fund may be held in cash or invested in the same class of securities required by law for the investment of funds by insurance corporations, and nothing contained in this chapter shall prevent the creation and accumulation of other funds in excess of the amount required in this chapter to provide for the purposes of such corporation, association, or society.Formerly: Acts 1897, c.195, s.11. As amended by P.L.252-1985, SEC.283.
IN Code § 27-8-3-12 (2021)
2021 Indiana Code|Title 27. Insurance|Article 8. Life, Accident, and Health|Chapter 3. Mutual Life and Accident─formation|27-8-3-12. Report of Affairs and Operations; Suspension for Failure to File

Sec. 12. (a) Every such accident insurance corporation, association, or society doing business under this chapter shall, on or before March 1 in each year, make and file with the insurance commissioner a report of its affairs and operations during the year ending on December 31 immediately preceding, which report shall be in lieu of all other reports required by this title and shall be verified by such officers of the corporation, association or society, as the commissioner may require, and shall contain answers to the following questions:(1) First, what number of certificates or policies were issued during the year or applicants admitted?(2) Second, what was the amount of death indemnity affected thereby?(3) Third, what number of death losses were incurred?(4) Fourth, what number of death losses were paid and amount thereof?(5) Fifth, what were the total number of indemnity claims paid and amount thereof?(6) Sixth, what were the number of death and number of indemnity claims unpaid?(7) Seventh, does the corporation, association, or society charge annual dues or membership fee? If so, how much?(8) Eighth, what was the total amount received and whether from assessment, annual dues, membership fees, or other sources, and the disposition thereof?(9) Ninth, does corporation, association, or society use moneys received for payment of claims to pay expenses, in whole or in part? And, if so, state the amount used.(10) Tenth, what is the amount of the emergency fund and how invested?(11) Eleventh, if organized under the laws of this state, state such fact and the date of organization.(12) Twelfth, what were the number of policies in force and death insurance in force at the beginning of the year, and such other information as may be required by the superintendent of insurance?(b) Any corporation, association, or society refusing or neglecting to make such report or to make payment of any one of the fees required by this chapter shall, upon the order of the insurance commissioner, cease to do business in this state until such report and payment shall be made and until the costs of such action be paid.Formerly: Acts 1897, c.195, s.12. As amended by P.L.252-1985, SEC.284.
IN Code § 27-8-3-13 (2021)
2021 Indiana Code|Title 27. Insurance|Article 8. Life, Accident, and Health|Chapter 3. Mutual Life and Accident─formation|27-8-3-13. Authority to Deposit Securities; Investment of Reserve Funds

Sec. 13. This chapter shall not be construed to limit the accumulation of a reserve or emergency fund by any corporation, association, or society subject to the provisions of this chapter. Any such corporation, association, or society may, in its discretion, through its officers or directors, deposit with the insurance commissioner such securities and for such amounts as may be approved by him, and, when so deposited, shall be retained by him for the purposes described in this chapter. All other investments of reserve funds shall be made in the same class of securities as are allowed by law for the investment of funds by insurance corporations.Formerly: Acts 1897, c.195, s.13. As amended by P.L.252-1985, SEC.285.
IN Code § 27-8-3-14 (2021)
2021 Indiana Code|Title 27. Insurance|Article 8. Life, Accident, and Health|Chapter 3. Mutual Life and Accident─formation|27-8-3-14. Specification of Amount Payable Upon Particular Contingency; Obligation for Payment; Suspension of Right to Issue New Policies Until Payment Made

Sec. 14. Every policy or certificate issued after March 9, 1897, by any corporation, association, or society doing business under this chapter and promising payment to be made upon a contingency of death or physical disability shall specify the sum of money which it promises to pay under such contingency, and the number of days after satisfactory proof of the happening thereof on which such payment shall be made. Upon the occurrence of such contingency, unless the contract shall have been avoided by fraud, or by breach of its conditions, the corporation, association, or society shall be obligated to the beneficiary for such payment, at the time and to the amount specified in the policy or certificate. If such corporation, association, or society shall refuse or fail to make such payment for sixty (60) days after final judgment has been obtained against such claim, the insurance commissioner shall notify the corporation, association, or society not to issue any new policies or certificates until such indebtedness is fully paid; and no officer or agent of the corporation, association, or society shall make, sign, or issue any policy or certificate of insurance while such notice is in force.Formerly: Acts 1897, c.195, s.14. As amended by P.L.252-1985, SEC.286.
IN Code § 27-8-3-15 (2021)
2021 Indiana Code|Title 27. Insurance|Article 8. Life, Accident, and Health|Chapter 3. Mutual Life and Accident─formation|27-8-3-15. Transfer or Reinsurance of Risks; Approval; Notice of Preference for Transfer to Different Corporation

Sec. 15. No such corporation, association, or society, organized under the laws of this state, shall transfer its risks to, or reinsure them in any other corporation, association, or society unless the contract of transfer or reinsurance is first submitted to and approved by a two-thirds (2/3) vote of a meeting of the insured, called to consider the same, of which meeting, a written or printed notice shall be mailed to each member, certificate holder, or policyholder, at least thirty (30) days before the day fixed for such meeting. If such transfer or reinsurance shall be approved, every member, certificate holder or policyholder of the corporation, association, or society, who shall file with the secretary of the corporation, association, or society, within ten (10) days after the meeting, a written notice of the member's, certificate holder's, or policyholder's preference to be transferred to some other corporation, association, or society, than that named in the contract, shall be accorded all the rights and privileges, if any, in aid of such transfer as would have been accorded under the terms of such contract had the member, certificate holder, or policyholder been transferred to the corporation, association, or society named. No such corporation, association, or society, organized under the laws of this state, shall transfer its risks or assets, or any part of its risks or assets, to, or reinsure its risks, or any part of its risks or assets, in any insurance corporation, association, or society of any other state or country, which is not at the time of such transfer or reinsurance authorized to do business in this state under the laws of this state.Formerly: Acts 1897, c.195, s.15. As amended by P.L.136-2018, SEC.191.
IN Code § 27-8-3-16 (2021)
2021 Indiana Code|Title 27. Insurance|Article 8. Life, Accident, and Health|Chapter 3. Mutual Life and Accident─formation|27-8-3-16. Examination at Request of Corporation; Certificate of Results; Expense

Sec. 16. The insurance commissioner shall, at the request of any corporation, association, or society doing business under the provisions of this chapter in this state on the assessment plan, make an examination of such corporation, association, or society, and shall furnish a certificate of the results of such examination, showing all its assets and how invested, and such other particulars as may be deemed necessary to show the character and condition of said corporation, association, or society, and the necessary expense of said examination shall be paid by the corporation, association, or society requesting it.Formerly: Acts 1897, c.195, s.16. As amended by P.L.252-1985, SEC.287.
IN Code § 27-8-3-17 (2021)
2021 Indiana Code|Title 27. Insurance|Article 8. Life, Accident, and Health|Chapter 3. Mutual Life and Accident─formation|27-8-3-17. Visitation and Inspection; Insolvency or Improper Business Practices; Report; Order to Show Cause for Termination of Business

Sec. 17. All corporations, associations, and societies to which this chapter is applicable, with their books, papers, and vouchers, shall be subject to visitation and inspection by the insurance commissioner or such person as he may designate, at the expense of said association. The commissioner may address any inquiries to such corporation, association, or society, in relation to its doings or condition, or any other matter connected with its transactions relative to the business contemplated by this chapter. All officers of such corporation, association, or society shall promptly reply in writing to all such inquiries, under the oath of its president, secretary, or other officers, if required. When the commissioner on investigation, shall be satisfied that any corporation, association, or society, organized under the laws of this state, doing business in this state of the character defined in this chapter, is insolvent because of matured death claims or other obligations due and unpaid, exceeding its assets and death assessments or periodical payments, called or in process of collection, or has exceeded its powers, failed to comply with any provision of law, or is conducting business fraudulently, he shall report the facts to the attorney general, who, if he shall be of the opinion that the facts require such action, may thereupon apply to any court having jurisdiction thereof, within the county in which the principal office of such corporation, association, or society in this state is located, for an order requiring the officers of such corporation, association, or society to show cause, at a reasonable time and place within such county, why such corporation, association, or society should not be restrained from continuing to transact business, with power to the court to adjourn the hearing thereon from time to time, not exceeding sixty (60) days in all.Formerly: Acts 1897, c.195, s.17. As amended by P.L.252-1985, SEC.288.
IN Code § 27-8-3-18 (2021)
2021 Indiana Code|Title 27. Insurance|Article 8. Life, Accident, and Health|Chapter 3. Mutual Life and Accident─formation|27-8-3-18. Attorney General; Exclusive Power to Apply for Accounting, Injunction, or Receivership

Sec. 18. No order, judgment, or decree providing for an accounting or enjoining, restraining, or interfering with the prosecution of the business of any domestic insurance corporation, association, or society subject to the provisions of this chapter, or appointing a temporary or permanent receiver thereof, shall be made or granted otherwise than upon the application of the attorney general on his own motion, or after his approval of a request in writing thereof by the insurance commissioner, except in an action by a judgment creditor or in proceedings supplementary to execution.Formerly: Acts 1897, c.195, s.18. As amended by P.L.252-1985, SEC.289.
IN Code § 27-8-3-20 (2021)
2021 Indiana Code|Title 27. Insurance|Article 8. Life, Accident, and Health|Chapter 3. Mutual Life and Accident─formation|27-8-3-20. Foreign Corporations; Service of Process

Sec. 20. All processes in any action or proceeding against any foreign corporation, association, or society doing business in this state under the provisions of this chapter may be served upon an individual resident of Indiana, a corporate resident of Indiana, or an authorized Indiana insurer, appointed by the corporation, association, or society as its agent for service of process, and any lawful process against it which is served on the agent shall be of the same legal force and validity as if served on the corporation, association, or society, and this provision shall continue in force so long as any liability remains outstanding against the corporation, association, or society in this state, service upon such agent shall be deemed sufficient service upon the principal. When legal process against any such corporation, association, or society is served upon such agent, the agent shall immediately notify the corporation, association, or society of such service by registered letter, prepaid, directed to its secretary, or, in case of a corporation, association or society of a foreign country, to the resident manager, if any, in this country, and shall, within two (2) days after such service, forward in the same manner a copy of the process served on the agent to such secretary or manager, or to any person previously designated by the corporation, association, or society, in writing. The agent shall keep a record of all processes served upon the agent which record shall show the day and hour when such service was made.Formerly: Acts 1897, c.195, s.20. As amended by P.L.252-1985, SEC.291; P.L.130-1994, SEC.42; P.L.116-1994, SEC.58; P.L.268-1999, SEC.20.
IN Code § 27-8-3-21 (2021)
2021 Indiana Code|Title 27. Insurance|Article 8. Life, Accident, and Health|Chapter 3. Mutual Life and Accident─formation|27-8-3-21. Fraudulent Representations; Offenses

Sec. 21. A person who knowingly makes a false or fraudulent statement or representation in or with reference to any application for insurance, or for the purpose of obtaining any money or benefit in or to any corporation, association, or society transacting business under this chapter, commits a Class A misdemeanor.Formerly: Acts 1897, c.195, s.21. As amended by Acts 1978, P.L.2, SEC.2726.
IN Code § 27-8-3-22 (2021)
2021 Indiana Code|Title 27. Insurance|Article 8. Life, Accident, and Health|Chapter 3. Mutual Life and Accident─formation|27-8-3-22. Eligible Beneficiaries; Change of Beneficiary

Sec. 22. Any member of such corporation, association or society may name as his payee or beneficiary any person or persons, natural or artificial, permitted by the by-laws of such corporations, associations or society, or, if the by-laws thereof permit, the insurance of such member may be made payable to his estate. Any member of such corporation, association or society, naming as his payee or beneficiary any such person or persons, may make such designation either revocable or irrevocable, and the option which he elects to exercise shall be set out in and be made a part of his application for a certificate or policy of insurance. When the right of revocation has been reserved, or in case of the death of any payee or beneficiary under either a revocable or an irrevocable designation, the insured, subject to any existing assignment of the policy, may designate a new payee or beneficiary, with or without reserving the right of revocation, by filing written notice thereof at the home office of the corporation, association or society, accompanied by the policy for suitable endorsement thereon. No person who shall have been designated as a payee or beneficiary by the insured shall have or obtain any vested interest in the death benefits which may accrue in the event of the death of the insured until such death benefits shall have become due and payable upon the death of the insured.Formerly: Acts 1897, c.195, s.22; Acts 1923, c.185, s.1.
IN Code § 27-8-3-23 (2021)
2021 Indiana Code|Title 27. Insurance|Article 8. Life, Accident, and Health|Chapter 3. Mutual Life and Accident─formation|27-8-3-23. Exemption of Benefits and Premiums From Judicial Process

Sec. 23. (a) As used in this section, "premium" includes any deposit or contribution.(b) The money or benefit provided or rendered by any corporation, association, or society authorized to do business under this chapter shall not be liable to attachment by garnishee or other process, and shall not be seized, taken, appropriated, or applied by any legal or equitable process, nor by any operation of law, to pay any debt or liability of a policy or certificate holder or any beneficiary named in the policy or certificate.(c) A premium paid for an individual life insurance policy that names as a beneficiary, or is legally assigned to, a spouse, child, or relative who is dependent upon the policy owner is not exempt from the claims of the creditors of the policy owner if the premium is paid:(1) not more than one (1) year before the date of the filing of a voluntary or involuntary bankruptcy petition by; or(2) to defraud the creditors of;the policy owner.(d) The insurer issuing the policy is discharged from all liability by payment of the proceeds and avails of the policy (as defined in IC 27-1-12-14(b)) in accordance with the terms of the policy unless, before payment, the insurer has received at the insurer's home office, written notice by or on behalf of a creditor of the policy owner that specifies the amount claimed against the policy owner.Formerly: Acts 1897, c.195, s.23. As amended by P.L.252-1985, SEC.292; P.L.253-1995, SEC.4; P.L.136-2018, SEC.192.
IN Code § 27-8-3-24 (2021)
2021 Indiana Code|Title 27. Insurance|Article 8. Life, Accident, and Health|Chapter 3. Mutual Life and Accident─formation|27-8-3-24. Violations; Revocation of Power to Do Business

Sec. 24. An officer or agent of any corporation, association, or society subject to this chapter who fails to comply with this chapter, knowingly makes in any report or statement any false or fraudulent statement, or refuses to permit the insurance commissioner or any examiner duly authorized by him for the purpose to make examination of its condition and business, books, papers, and vouchers commits a Class C infraction. A person who fails to comply with or violates this chapter commits a Class C infraction. If an examination of the condition and business of any such corporation, association, or society transacting business in this state is prevented by an offense under this section, the insurance commissioner shall revoke the certificate of authority issued to such corporation, association, or society, and it is unlawful for it to do business in this state until it has submitted to an examination, and the insurance commissioner has issued to it a new certificate of authority authorizing it to continue business in this state.Formerly: Acts 1897, c.195, s.24. As amended by Acts 1978, P.L.2, SEC.2727.
IN Code § 27-8-3-25 (2021)
2021 Indiana Code|Title 27. Insurance|Article 8. Life, Accident, and Health|Chapter 3. Mutual Life and Accident─formation|27-8-3-25. Fees

Sec. 25. The fees to be paid by each such corporation, association, or society to the insurance commissioner for the authority to such corporation, association, or society, and its insurance producers under the license granted by him to each corporation, association, or society, to transact business in the state of Indiana shall be as follows:For filing copy of charter or articles of incorporation, twenty-five dollars ($25).For filing each annual statement, twenty dollars ($20).For issuing certificate of authority or license to company, corporation, association or society, one dollar ($1).For issuing license to each insurance producer, one dollar ($1).For affixing seal and certifying to any paper, one dollar ($1).For renewal of license, each such corporation, association, or society shall file with the commissioner its annual statement, for which it shall pay the sum of twenty dollars ($20).For the privilege of transacting business in this state, a foreign or alien company, association, or society, admitted and licensed under this chapter, shall pay an annual tax upon premiums or assessments derived from business written within this state, such tax to be as defined and determined under IC 27-1-18-2, which is declared to be applicable in its terms and provisions to such a company, association, or society; provided also, that when any other state or country shall impose any obligations in excess of those imposed by this chapter upon any such corporation, association, or society of this state, a like obligation shall be imposed on similar corporations and their agents of such state or country doing business in this state; and provided also, that such corporation, association, or society, in transacting business in this state, shall be subject only to the provisions of this chapter.Formerly: Acts 1897, c.195, s.25; Acts 1955, c.55, s.1. As amended by P.L.252-1985, SEC.293; P.L.178-2003, SEC.59.
IN Code § 27-8-3-26 (2021)
2021 Indiana Code|Title 27. Insurance|Article 8. Life, Accident, and Health|Chapter 3. Mutual Life and Accident─formation|27-8-3-26. Exempt Organizations

Sec. 26. Nothing contained in sections 1 through 25 of this chapter shall be construed to apply to secret or fraternal societies, lodges or councils that are now organized, or that may hereafter be organized, which conduct their business and secure members on the lodge system, exclusively, having ritualistic work and ceremonies in their societies, lodges or councils, and which are under the supervision of a grand or supreme body, nor to any association organized solely for benevolent purposes and not for profit; nor to any association of religious or secret societies, nor to any class of mechanics, express, telegraph or railroad employees or veterans described in IC 10-17-5-2 or IC 10-17-5-1 (before their repeal) or any existing societies now doing business and formed for the mutual benefit of the members thereof and their families exclusively.Formerly: Acts 1897, c.195, s.26. As amended by Acts 1980, P.L.38, SEC.18; P.L.2-2003, SEC.70; P.L.42-2020, SEC.18.