reglab/housing_qa huggingface dataset:
IN Code § 27-9-3-44 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3. Formal Proceedings|27-9-3-44. Discharge of Liquidator

Sec. 44. (a) When all assets justifying the expense of collection and distribution have been collected and distributed under IC 27-9, the liquidator shall apply to the Marion County circuit court for discharge. The court may grant the discharge and make any other orders, including an order to transfer any remaining funds that are uneconomic to distribute, as may be considered appropriate.(b) Any other person may apply to the Marion County circuit court at any time for an order under subsection (a). If the application is denied, the applicant shall pay the costs and expenses of the liquidator in resisting the application, including a reasonable attorney's fee.As added by Acts 1979, P.L.255, SEC.1.
IN Code § 27-9-3-45 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3. Formal Proceedings|27-9-3-45. Reopening of Proceedings

Sec. 45. After the liquidation proceeding has been terminated and the liquidator discharged, the commissioner or other interested party may at any time petition the Marion County circuit court to reopen the proceedings for good cause, including the discovery of additional assets. If the court is satisfied that there is justification for reopening, the court shall order it.As added by Acts 1979, P.L.255, SEC.1.
IN Code § 27-9-3-46 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3. Formal Proceedings|27-9-3-46. Destruction of Records

Sec. 46. Whenever it appears to the commissioner that the records of any insurer in process of liquidation or completely liquidated are no longer useful, he may recommend to the Marion County circuit court that certain records be destroyed. The court shall direct what records should be retained for future reference and what should be destroyed.As added by Acts 1979, P.L.255, SEC.1.
IN Code § 27-9-3-47 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3. Formal Proceedings|27-9-3-47. Audit of Books of Commissioner Relating to Receivership

Sec. 47. The Marion County circuit court may, as the court considers desirable, cause audits to be made of the books of the commissioner relating to any receivership established under IC 27-9, and a report of each audit must be filed with the commissioner and with the court. The books, records, and other documents of the receivership must be made available to the auditor at any time without notice. The expense of each audit shall be considered a cost of the administration of the receivership.As added by Acts 1979, P.L.255, SEC.1.
IN Code § 27-9-3.1-1 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-1. "Actual Direct Compensatory Damages"

Sec. 1. (a) As used in this chapter, "actual direct compensatory damages" includes:(1) normal and reasonable costs of cover; and(2) other reasonable measures of damages used in the derivatives market, the securities market, or another market for contract claims.(b) The term does not include:(1) punitive or exemplary damages;(2) damages for lost profit or lost opportunity; or(3) damages for pain and suffering.As added by P.L.11-2011, SEC.36. Amended by P.L.13-2013, SEC.70.
IN Code § 27-9-3.1-2 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-2. "Business Day"

Sec. 2. As used in this chapter, "business day" means a day other than:(1) Saturday;(2) Sunday; or(3) a day on which either the New York Stock Exchange or the Federal Reserve Bank of New York is closed.As added by P.L.11-2011, SEC.36.
IN Code § 27-9-3.1-3 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-3. "Commodity Contract"

Sec. 3. As used in this chapter, "commodity contract" means any of the following:(1) A contract for the purchase or sale of a commodity:(A) for future delivery on; or(B) subject to the rules of;a board of trade or contract market under the federal Commodity Exchange Act (7 U.S.C. 1 et seq.) or a board of trade outside the United States.(2) An agreement that is:(A) subject to regulation under Section 19 of the federal Commodity Exchange Act (7 U.S.C. 1 et seq.); and(B) commonly known to the commodities trade as a margin account, margin contract, leverage account, or leverage contract.(3) An agreement or transaction that is:(A) subject to regulation under Section 4c(b) of the federal Commodity Exchange Act (7 U.S.C. 1 et seq.); and(B) commonly known to the commodities trade as a commodity option.(4) A combination of the contracts, agreements, or transactions described in subdivisions (1) through (3).(5) An option to enter into:(A) a contract;(B) an agreement;(C) a transaction; or(D) a combination of contracts, agreements, or transactions;described in subdivisions (1) through (4).As added by P.L.11-2011, SEC.36.
IN Code § 27-9-3.1-4 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-4. "Contractual Right"

Sec. 4. As used in this chapter, "contractual right" includes the following:(1) A right set forth in a rule, bylaw, or resolution of the governing board of any of the following:(A) A derivatives clearing organization (as defined in the federal Commodity Exchange Act (7 U.S.C. 1 et seq.)).(B) A multilateral clearing organization (as defined in the Federal Deposit Insurance Corporation Improvement Act (12 U.S.C. 1821)).(C) A national securities exchange, national securities association, or securities clearing agency.(D) A contract market designated under the federal Commodity Exchange Act (7 U.S.C. 1 et seq.).(E) A derivatives transaction execution facility registered under the federal Commodity Exchange Act (7 U.S.C. 1 et seq.).(F) A board of trade (as defined in the federal Commodity Exchange Act (7 U.S.C. 1 et seq.)).(2) A right, regardless of whether evidenced in writing, arising:(A) under statutory or common law;(B) under the law merchant; or(C) by reason of normal business practice.As added by P.L.11-2011, SEC.36.
IN Code § 27-9-3.1-5 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-5. "Forward Contract"

Sec. 5. As used in this chapter, "forward contract" has the meaning set forth in the Federal Deposit Insurance Act (12 U.S.C. 1821).As added by P.L.11-2011, SEC.36.
IN Code § 27-9-3.1-6 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-6. "Netting Agreement"

Sec. 6. (a) As used in this chapter, "netting agreement" means a new agreement that:(1) allows the parties to a previous agreement to aggregate the amounts owing by each party under all transactions that are outstanding under the previous agreement; and(2) replaces the amounts owing under the previous agreement with a single net amount:(A) resulting from the aggregation under subdivision (1); and(B) owing:(i) by one (1) party; and(ii) to the other party;to the previous agreement.(b) The single net amount described in subsection (a)(2) may be determined as follows:(1) In the event of a relevant default (including counterparty bankruptcy) as specified in the previous agreement, all transactions of a certain type are netted at:(A) market value; or(B) if:(i) otherwise specified in the contract; or(ii) market value is impossible to obtain;an amount equal to the loss suffered by the nondefaulting party as a result of the default.(2) Under the new agreement, the parties agree that legal obligations of the parties to make required payments under at least one (1) series of related transactions under the previous agreement are:(A) canceled; and(B) replaced by a new legal obligation to make payments on only the single net amount under the new agreement.(3) In the event of a cash settled trade, the parties agree that legal obligations of:(A) the parties; or(B) a party and parents or affiliates of a party;under related or unrelated transactions are canceled and replaced by the cash settled trade.As added by P.L.11-2011, SEC.36.
IN Code § 27-9-3.1-7 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-7. "Qualified Financial Contract"

Sec. 7. As used in this chapter, "qualified financial contract" means a commodity contract, forward contract, repurchase agreement, securities contract, swap agreement, or a similar agreement, as determined by the commissioner.As added by P.L.11-2011, SEC.36.
IN Code § 27-9-3.1-8 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-8. "Repurchase Agreement"

Sec. 8. As used in this chapter, "repurchase agreement" has the meaning set forth in the Federal Deposit Insurance Act (12 U.S.C. 1821).As added by P.L.11-2011, SEC.36.
IN Code § 27-9-3.1-9 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-9. "Securities Contract"

Sec. 9. As used in this chapter, "securities contract" has the meaning set forth in the Federal Deposit Insurance Act (12 U.S.C. 1821).As added by P.L.11-2011, SEC.36.
IN Code § 27-9-3.1-10 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-10. "Swap Agreement"

Sec. 10. As used in this chapter, "swap agreement" has the meaning set forth in the Federal Deposit Insurance Act (12 U.S.C. 1821).As added by P.L.11-2011, SEC.36.
IN Code § 27-9-3.1-11 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-11. "Walkaway Clause"

Sec. 11. As used in this chapter, "walkaway clause" means a provision in a netting agreement or qualified financial contract that, after calculation of the value of a party's position or an amount due to or from a party under the netting agreement or qualified financial contract upon termination, liquidation, or acceleration of the netting agreement or qualified financial contract, either:(1) does not create a payment obligation of a party; or(2) voids any part of a payment obligation of a party;solely because of the party's status as a nondefaulting party.As added by P.L.11-2011, SEC.36.
IN Code § 27-9-3.1-12 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-12. Rights

Sec. 12. Notwithstanding any other provision of this title to the contrary, a person may exercise any of the following:(1) A contractual right to cause the termination, liquidation, acceleration, or close-out of obligations in connection with a netting agreement or qualified financial contract with an insurer due to:(A) the insolvency, financial condition, or default of the insurer if the right is enforceable under applicable law other than this title; or(B) the commencement of a formal delinquency proceeding under IC 27-9-3.(2) A right under:(A) a pledge, security, collateral, reimbursement, guarantee agreement, or similar security agreement; or(B) an arrangement or credit enhancement relating to at least one (1) netting agreement or qualified financial contract.(3) A right to set off or net out a termination value, payment amount, or other transfer obligation arising in connection with at least one (1) qualified financial contract in which the counterparty or the counterparty's guarantor is organized under the laws of:(A) the United States; or(B) a state or foreign jurisdiction approved as eligible for netting by the Securities Valuation Office of the NAIC.As added by P.L.11-2011, SEC.36. Amended by P.L.148-2017, SEC.19.
IN Code § 27-9-3.1-13 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-13. Damages

Sec. 13. (a) If a counterparty to a netting agreement or qualified financial contract with an insurer that is subject to a proceeding under IC 27-9-3 terminates, liquidates, closes out, or accelerates the netting agreement or qualified financial contract, damages must be measured as of the date of termination, liquidation, close-out, or acceleration.(b) The amount of a claim for damages under subsection (a) is equal to the actual direct compensatory damages calculated in accordance with section 19 of this chapter.As added by P.L.11-2011, SEC.36.
IN Code § 27-9-3.1-14 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-14. Transfer of Amounts With Receiver

Sec. 14. (a) Notwithstanding a walkaway clause in a netting agreement or qualified financial contract, upon termination of the netting agreement or qualified financial contract, any net or settlement amount owed by a nondefaulting party to an insurer against which an application or petition has been filed under IC 27-9-3 must be transferred:(1) to; or(2) according to the order of;the receiver for the insurer, regardless of whether the insurer is the defaulting party.(b) For purposes of subsection (a), a limited two-way payment or first method provision in a netting agreement or qualified financial contract with an insurer that has defaulted is considered to be a full two-way payment or second method provision as against the defaulting insurer.As added by P.L.11-2011, SEC.36.
IN Code § 27-9-3.1-15 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-15. Transfers by Receiver

Sec. 15. In making a transfer of a netting agreement or qualified financial contract of an insurer that is subject to a proceeding under IC 27-9-3, the receiver shall either:(1) transfer to one (1) party, other than an insurer subject to a proceeding under IC 27-9-3, all netting agreements and qualified financial contracts between a counterparty or an affiliate of a counterparty and the insurer that is the subject of the proceeding, including:(A) all rights and obligations of each party; and(B) all property, including guarantees or credit enhancements, that secures claims of each party;under each netting agreement and qualified financial contract; or(2) transfer none of the netting agreements, qualified financial contracts, rights, obligations, or property referred to in subdivision (1) with respect to a counterparty or an affiliate of a counterparty.As added by P.L.11-2011, SEC.36.
IN Code § 27-9-3.1-16 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-16. Notice to Parties of Transfer

Sec. 16. If an insurer's receiver makes a transfer of at least one (1) netting agreement or qualified financial contract under section 14 of this chapter, the receiver shall use the receiver's best efforts to notify any person that is a party to the netting agreement or qualified financial contract before noon, local time of the receiver, on the business day following the transfer.As added by P.L.11-2011, SEC.36.
IN Code § 27-9-3.1-17 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-17. Avoidance of Transfer by Receiver

Sec. 17. Notwithstanding IC 27-9-3 and this chapter, a receiver may not avoid a transfer of money or other property arising in connection with:(1) a netting agreement or qualified financial contract;(2) a pledge, security, collateral, reimbursement, guarantee agreement, or similar security agreement; or(3) an arrangement or credit enhancement relating to a netting agreement or qualified financial contract;made before the commencement of a formal delinquency proceeding under IC 27-9-3. However, a receiver may avoid a transfer made with actual intent to hinder, delay, or defraud the insurer, the insurer's receiver, or creditors.As added by P.L.11-2011, SEC.36.
IN Code § 27-9-3.1-18 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-18. Receiver's Right of Disaffirmance or Repudiation

Sec. 18. In exercising a receiver's right of disaffirmance or repudiation with respect to a netting agreement or qualified financial contract to which an insurer is a party, the receiver for the insurer shall either:(1) disaffirm or repudiate all netting agreements and qualified financial contracts between a counterparty or an affiliate of a counterparty and the insurer that is the subject of the proceeding; or(2) disaffirm or repudiate none of the netting agreements and qualified financial contracts referred to in subdivision (1) with respect to a counterparty or an affiliate of a counterparty.As added by P.L.11-2011, SEC.36.
IN Code § 27-9-3.1-19 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-19. Claim Arising From Disaffirmance or Repudiation

Sec. 19. (a) Notwithstanding IC 27-9-3 and this chapter, a claim of a counterparty against an estate arising from an insurer's receiver's disaffirmance or repudiation of a netting agreement or qualified financial contract that has not been previously affirmed in the liquidation or immediately preceding conservation or rehabilitation case must be determined and allowed or disallowed:(1) as if the claim had arisen before the date of the filing of the petition for liquidation; or(2) if a conservation or rehabilitation proceeding is converted to a liquidation proceeding, as if the claim had arisen before the date of the filing of the petition for conservation or rehabilitation.(b) The amount of a claim described in subsection (a) is the actual direct compensatory damages determined as of the date of the disaffirmance or repudiation of the netting agreement or qualified financial contract.As added by P.L.11-2011, SEC.36.
IN Code § 27-9-3.1-20 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 3.1. Treatment of Certain Agreements|27-9-3.1-20. Application of Counterparty Rights

Sec. 20. All rights of counterparties under this chapter apply to netting agreements and qualified financial contracts entered into on behalf of the general account or separate accounts if the assets of each separate account are:(1) available only to counterparties to netting agreements and qualified financial contracts; and(2) entered into on behalf of the separate account.As added by P.L.11-2011, SEC.36.
IN Code § 27-9-4-1 (2021)
2021 Indiana Code|Title 27. Insurance|Article 9. Supervision; Rehabilitation; Liquidation|Chapter 4. Interstate Relations|27-9-4-1. Conservators for Alien or Foreign Insurers; Grounds for Appointment; Procedure; Order; Termination

Sec. 1. (a) If a domiciliary liquidator has not been appointed, the commissioner may apply to the Marion County circuit court by verified petition for an order directing him to act as conservator to conserve the property of an alien insurer not domiciled in Indiana or a foreign insurer on any one (1) or more of the following grounds:(1) Any of the grounds stated in IC 27-9-3-1.(2) That any part of its property has been sequestered by official action in any other state.(3) That enough of its property has been sequestered in a foreign country to give reasonable cause to fear that the insurer is or may become insolvent.(4) That its certificate of authority to do business in Indiana has been revoked or that none was ever issued.(5) That there are residents of Indiana with outstanding claims or outstanding policies.(b) When an order is sought under subsection (a), the Marion County circuit court shall cause the insurer to be given a notice and a time within which to respond to the request as is reasonable under the circumstances.(c) The Marion County circuit court may issue the order in whatever terms the court considers appropriate. The filing or recording of the order with the clerk of the Marion County circuit court or the recorder of deeds of the county in which the principal business of the company is located, shall impart the same notice as a deed, bill of sale, or other evidence of title duly filed or recorded with that recorder of deeds would have imparted.(d) The conservator may at any time petition for and the Marion County circuit court may grant an order under section 2 of this chapter to liquidate assets of a foreign or alien insurer under conservation, or, if appropriate, for an order under section 4 of this chapter to be appointed ancillary receiver.(e) The conservator may at any time petition the Marion County circuit court for an order terminating conservation of an insurer. If the court finds that the conservation is no longer necessary, the court shall order the insurer be restored to possession of its property and the control of its business. The court may also make such finding and issue such order at any time upon motion of any interested party, but if that motion is denied all costs shall be assessed against such party.As added by Acts 1979, P.L.255, SEC.1.