reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 1. Applicability and Definitions › 26-4-1-15. "Grain Indemnity Program"

Sec. 15. "Grain indemnity program" means the system created by this article to have the board pay money out of the fund to producers having losses due to a failure.
As added by P.L.250-1995, SEC.1.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 1. Applicability and Definitions › 26-4-1-15.5. "Licensee"

Sec. 15.5. "Licensee" has the meaning set forth in IC 26-3-7-2(24).
As added by P.L.145-2017, SEC.13. Amended by P.L.208-2021, SEC.9.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 1. Applicability and Definitions › 26-4-1-16. "Participant in the Grain Indemnity Program"

Sec. 16. "Participant in the grain indemnity program" means a producer who has:
(1) not requested and received a refund under IC 26-4-5-1 after June 30, 2015; or
(2) reentered the program under IC 26-4-5-2.
As added by P.L.250-1995, SEC.1. Amended by P.L.268-2001, SEC.1; P.L.145-2017, SEC.14.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 1. Applicability and Definitions › 26-4-1-18. "Producer"

Sec. 18. "Producer" means an owner of land, a tenant on land, or an operator of a farm that has an interest in and receives all or any part of the proceeds from the sale to a first purchaser licensee of the grain produced.
As added by P.L.250-1995, SEC.1. Amended by P.L.145-2017, SEC.15.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 1. Applicability and Definitions › 26-4-1-19. "Producer Premium"

Sec. 19. "Producer premium" means the amount of money charged to and collected from a producer under IC 26-4-4-4 that qualifies the producer to be a part of the grain indemnity program.
As added by P.L.250-1995, SEC.1.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 1. Applicability and Definitions › 26-4-1-19.5. "Seed"

Sec. 19.5. "Seed", notwithstanding IC 15-15-1, means grain set apart to be used primarily for the purpose of producing new plants.
As added by P.L.173-1999, SEC.16. Amended by P.L.2-2008, SEC.68.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 1. Applicability and Definitions › 26-4-1-20. "Storage Loss"

Sec. 20. "Storage loss" means a loss to a storage depositor resulting from a failed warehouse operator not fully satisfying the warehouse operator's storage obligation to the depositor, net of any outstanding charges against the grain.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010, SEC.20.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 1. Applicability and Definitions › 26-4-1-21. "United States Warehouse Act"

Sec. 21. "United States Warehouse Act" means the United States Warehouse Act, enacted August 11, 1916, as amended.
As added by P.L.250-1995, SEC.1.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 1. Applicability and Definitions › 26-4-1-23. "Warehouse"

Sec. 23. "Warehouse" means any building or other protected enclosure in one (1) general location that is licensed or required to be licensed under IC 26-3-7 in which grain is or may be:
(1) stored for hire;
(2) used for grain bank storage; or
(3) used to store company owned grain;
and the building or other protected enclosure is operated under one (1) ownership and run from a single office.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010, SEC.21.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 1. Applicability and Definitions › 26-4-1-24. "Warehouse Operator"

Sec. 24. "Warehouse operator" means a person who operates a facility or group of facilities:
(1) in which grain is or may be stored for hire; or
(2) that is used for grain bank storage;
and that is operated under one (1) ownership and run from a single office that holds a valid license under IC 26-3-7 or the United States Warehouse Act.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010, SEC.22.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 3. Indiana Grain Indemnity Corporation › 26-4-3-1. Establishment as a Public Body Corporate

Sec. 1. The Indiana grain indemnity corporation is established. The corporation is a public body corporate and politic, and though it is separate from the state, the exercise by the corporation of its powers constitutes an essential governmental function. The corporation may sue and be sued and plead and be impleaded.
As added by P.L.250-1995, SEC.1.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 3. Indiana Grain Indemnity Corporation › 26-4-3-2. Board of Directors; Establishment; Powers and Duties; Members

Sec. 2. (a) The corporation's board is created. The governing powers of the corporation are vested in the board, which is composed of thirteen (13) members as described in subsections (b) and (c).
(b) The board consists of the following ten (10) voting members:
(1) Two (2) members appointed by the largest Indiana organization representing the interests of grain and feed dealers in Indiana.
(2) Two (2) members appointed by the largest Indiana organization representing general farm interests in Indiana.
(3) One (1) member appointed by the second largest Indiana organization representing general farm interests in Indiana.
(4) One (1) member appointed by the largest Indiana organization exclusively representing the interests of corn producers.
(5) One (1) member appointed by the largest Indiana organization exclusively representing the interests of soybean producers in Indiana.
(6) Two (2) members appointed by the largest Indiana organization representing the interests of bankers in Indiana.
(7) One (1) member appointed by the largest Indiana organization representing the interests of the seed trade in Indiana.
The members appointed under subdivisions (2) through (5) must be producers.
(c) The board consists of the following three (3) nonvoting members:
(1) The attorney general.
(2) The treasurer of state.
(3) The director of the agency, who shall serve as the chairperson.
(d) The:
(1) attorney general may designate a licensed attorney representative; and
(2) treasurer of state may designate a representative;
to serve on the board.
As added by P.L.250-1995, SEC.1. Amended by P.L.115-1999, SEC.3; P.L.5-2009, SEC.1; P.L.208-2021, SEC.10.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 3. Indiana Grain Indemnity Corporation › 26-4-3-3. Board of Directors; Term; Vacancies

Sec. 3. (a) A member of the board appointed under section 2(b) of this chapter:
(1) serves for a four (4) year term;
(2) is entitled to the same per diem and mileage allowances provided by law for state employees; and
(3) may be reappointed.
(b) A vacancy created by a member described in subsection (a) shall be filled by the appointing body of the person who created the vacancy. The replacement board member shall fill the vacancy for the unexpired term of the previous member.
(c) A vacancy in the membership of the board does not impair the right of a quorum to exercise all the rights and perform all the duties of the board and corporation.
As added by P.L.250-1995, SEC.1.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 3. Indiana Grain Indemnity Corporation › 26-4-3-4. Board of Directors; Quorum

Sec. 4. (a) Except as provided in subsection (b), six (6) voting members constitute a quorum. The affirmative votes of at least six (6) voting members are necessary for any action to be taken by the board.
(b) A meeting may be adjourned by less than six (6) members.
As added by P.L.250-1995, SEC.1. Amended by P.L.115-1999, SEC.4.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 3. Indiana Grain Indemnity Corporation › 26-4-3-5. Board of Directors; Meetings

Sec. 5. The board shall meet at least two (2) times each year. One (1) meeting of the board must be held in July.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010, SEC.23.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 3. Indiana Grain Indemnity Corporation › 26-4-3-6. Board of Directors; Notice of Meetings

Sec. 6. (a) Except as provided in subsection (b), a member of the board must be given at least five (5) days written notice of the meetings.
(b) A member of the board may waive any notice required by this section or bylaws of the corporation before or after the date and time stated in the notice. The waiver by the board member entitled to the notice must be in writing and be hand delivered or mailed to the corporation for inclusion in the minutes or filing with the corporate records.
(c) A board member's attendance at a meeting waives any objection:
(1) to the lack of a notice or a defective notice of the meeting, unless the member at the beginning of the meeting objects to holding the meeting or transacting business at the meeting; and
(2) to consideration of a particular matter at the meeting that is not within the purpose or purposes described in the notice, unless the member objects to considering the matter when it is presented.
As added by P.L.250-1995, SEC.1.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 3. Indiana Grain Indemnity Corporation › 26-4-3-7. Board of Directors; Duties

Sec. 7. The board shall do the following:
(1) Adopt rules, create forms, and establish guidelines to implement this article.
(2) Collect and deposit all producer premiums authorized under IC 26-4-4-4 into the fund for investment by the board.
(3) Require reports from the agency regarding the financial status of a licensee, while the board is in executive session and without disclosing the name or any other identifying information of the licensee, including the following:
(A) Whether there is a risk that a licensee may fail.
(B) The financial impact to the fund if a licensee identified in clause (A) were to fail.
(C) The estimated number of potential claimants that could result from the failure of a licensee identified in clause (A).
(D) Any other information the director determines is necessary to solicit the advice of the board regarding the financial status of a licensee.
However, the director may not share information under this subdivision with a board member who has not executed a confidentiality agreement.
(4) Initiate any action it may consider necessary to compel the grain buyer against whom an awarded claim arose to repay to the fund the sums that are disbursed from the fund in relation to each claim.
(5) Initiate any action it may consider necessary to compel the claimant whose claim arose due to a failure to participate in any legal proceeding in relation to the claim.
(6) Within five (5) business days of receiving notice of failure of a grain buyer, publish notice of the failure in a manner described in IC 5-3.
As added by P.L.250-1995, SEC.1. Amended by P.L.208-2021, SEC.11.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 3. Indiana Grain Indemnity Corporation › 26-4-3-8. Board of Directors; Liability

Sec. 8. A member of the board or other person acting on behalf of the corporation is not personally liable for damage or injury resulting from the performance of the member's or person's duties under this article.
As added by P.L.250-1995, SEC.1.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 3. Indiana Grain Indemnity Corporation › 26-4-3-8.5. Conflict of Interest; Recusal

Sec. 8.5. If a board member reasonably believes that a conflict of interest exists with respect to the exercise of the board member's official duties in a particular case, the board member:
(1) shall disclose that a conflict of interest exists to the board and the agency; and
(2) is recused from the proceeding.
As added by P.L.208-2021, SEC.12.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 3. Indiana Grain Indemnity Corporation › 26-4-3-8.7. Violating Confidentiality Agreement

Sec. 8.7. (a) If a board member is found to have violated the terms of a confidentiality agreement entered into under this chapter, the board member forfeits the member's appointment to the board and shall be removed as a member of the board.
(b) If a board member is suspected of violating the terms of the confidentiality agreement, the matter must be referred to the office of the attorney general for an evaluation and determination.
As added by P.L.208-2021, SEC.13.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 4. Indiana Grain Indemnity Fund › 26-4-4-1. Establishment of Fund; Fiscal Year

Sec. 1. (a) The Indiana grain indemnity fund is established for the purpose of providing money to pay producers for losses incurred due to the failure of a grain buyer or warehouse operator licensed under IC 26-3-7. The fund shall be administered by the board of the corporation.
(b) The fund consists of money collected under this chapter.
(c) The fund shall operate on a fiscal year of July 1 to June 30.
As added by P.L.250-1995, SEC.1. Amended by P.L.173-1999, SEC.18; P.L.75-2010, SEC.24; P.L.60-2015, SEC.14.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 4. Indiana Grain Indemnity Fund › 26-4-4-2. Fund Administration Expenses

Sec. 2. (a) The administrative expense account is created within the fund.
(b) The expenses of administering the fund and paying administrative expenses must be paid from money in the administrative expense account.
(c) The board may transfer annually not more than three hundred fifty thousand dollars ($350,000) from the fund to the administrative expense account.
(d) Administrative expenses under this section may include:
(1) processing refunds;
(2) enforcement of the fund;
(3) record keeping in relation to the fund;
(4) the ordinary management and investment fees connected with the operation of the fund;
(5) a study of fund solvency, practices, and procedures;
(6) a performance review of the agency's auditing practices and procedures;
(7) professional development and training programs for agency staff that are closely relevant to the auditing, licensing, and other regulatory functions of the agency;
(8) technology software updates and technology support services that are closely relevant to the auditing, licensing, and other regulatory functions of the agency;
(9) professional training for board members on the board members' duties and responsibilities; and
(10) the use of supplemental consulting services.
(e) The agency may not use money in the administrative expense account for expenses other than the expenses described in subsection (d).
As added by P.L.250-1995, SEC.1. Amended by P.L.5-2009, SEC.2; P.L.60-2015, SEC.15; P.L.145-2017, SEC.16; P.L.208-2021, SEC.15.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 4. Indiana Grain Indemnity Fund › 26-4-4-3. Premiums Held in Trust; Investment of Fund; Interest; Reversion

Sec. 3. (a) All producer premiums submitted to the board by a grain buyer under section 6(b) of this chapter shall be held by the corporation in trust in the fund for carrying out the purposes of this article. The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested. Interest earned from these investments shall be credited to the fund.
(b) Money in the fund at the end of a state fiscal year does not revert to the state general fund.
As added by P.L.250-1995, SEC.1.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 4. Indiana Grain Indemnity Fund › 26-4-4-4. Producer Premiums

Sec. 4. (a) Except as provided in section 8 of this chapter, beginning on July 1, 2015, the producers of grain shall be charged a producer premium equal to two-tenths percent (0.2%) of the price on all marketed grain that is sold to a first purchaser licensee.
(b) The producer premiums required under this section are in addition to any other fees or assessments required by law.
As added by P.L.250-1995, SEC.1. Amended by P.L.60-2015, SEC.16; P.L.145-2017, SEC.17.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 4. Indiana Grain Indemnity Fund › 26-4-4-5. Notice of Producer Premium Deductions

Sec. 5. The agency shall notify each grain buyer licensed under IC 26-3-7 that producer premiums described in section 4 of this chapter shall be deducted from the purchase price of the grain on and after the date specified in the notice. The notice must be sent by first class mail.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010, SEC.25.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 4. Indiana Grain Indemnity Fund › 26-4-4-6. Submission of Producer Premiums to Finance Fund

Sec. 6. (a) When purchasing grain, a grain buyer, a grain buyer's agent, or a grain buyer's representative shall:
(1) deduct the producer premium described in section 4 of this chapter from the producer's payment; and
(2) document the producer premium paid by the producer.
(b) A grain buyer shall submit producer premiums collected under subsection (a) to the board for the purpose of financing or contributing to the financing of the fund by:
(1) October 31 for producer premiums collected during the months of July, August, and September;
(2) January 31 for producer premiums collected during the months of October, November, and December;
(3) April 30 for producer premiums collected during the months of January, February, and March; and
(4) July 31 for producer premiums collected during the months of April, May, and June.
As added by P.L.250-1995, SEC.1.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 4. Indiana Grain Indemnity Fund › 26-4-4-7. Inspection of Books and Records; Verification; Confidentiality

Sec. 7. (a) The:
(1) books and records of each grain buyer must clearly indicate the producer premiums collected by the grain buyer; and
(2) portion of the books and records reflecting the premiums collected must be open for inspection by the corporation, board, board's authorized agents, director, or the director's designee during regular business hours.
(b) The corporation, board, board's authorized agent, director, or the director's designee may take steps reasonably necessary to verify the accuracy of the portion of a grain buyer's books and records that reflect the premiums collected. The information obtained under this section is confidential for purposes of IC 5-14-3-4(a)(1). Unless otherwise required by judicial order, the information obtained under this section may be disclosed only to parties empowered to see or review the information. The corporation, board, or director may respond to inquiries or disclose information obtained under this section only in accordance with guidelines set forth in IC 26-3-7-6.5.
(c) Notwithstanding subsections (a) and (b), the verification permitted under subsection (b) must be completed by the agency unless two-thirds (2/3) of the board vote to have the verification completed by an independent auditor.
As added by P.L.250-1995, SEC.1.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 4. Indiana Grain Indemnity Fund › 26-4-4-8. Amount of Fund; Basis for Suspension and Reinstatement of Producer Premium Collection

Sec. 8. (a) The producer premiums required under section 4 of this chapter must be collected until the fund contains more than twenty-five million dollars ($25,000,000), as of June 30 of any given year.
(b) Except as provided in subsection (c), after the fund reaches twenty-five million dollars ($25,000,000), the board may not require the collection of additional producer premiums until the amount in the fund drops below twenty million dollars ($20,000,000), as determined under section 9 of this chapter. In a year when the board determines that the fund is at or below twenty million dollars ($20,000,000), the board shall reinstate the collection described in this chapter.
(c) The board shall reinstate the collection described in this chapter if as of May 1:
(1) the fund contains at least twenty million dollars ($20,000,000);
(2) the board is aware of a failure of a grain buyer; and
(3) the amount of compensation from the fund to cover producers' claims, as determined by the board, is equal to or greater than the amount of money in the fund.
As added by P.L.250-1995, SEC.1. Amended by P.L.5-2009, SEC.3; P.L.60-2015, SEC.17.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 4. Indiana Grain Indemnity Fund › 26-4-4-9. Certification of Fund Balance; Discretion of Board to Suspend Collection

Sec. 9. (a) At the July meeting required under IC 26-4-3-5, the board shall certify the amount of money in the fund on June 30.
(b) Except as provided in section 8(c) of this chapter, the board may not require the collection of a producer premium during a fiscal year when the board certifies under subsection (a) that the fund has money in excess of twenty million dollars ($20,000,000). If the fund is at or below twenty million dollars ($20,000,000), the board shall reinstate the collection.
As added by P.L.250-1995, SEC.1. Amended by P.L.5-2009, SEC.4; P.L.75-2010, SEC.26; P.L.60-2015, SEC.18.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 5. Withdrawal From and Reentry Into the Grain Indemnity Program › 26-4-5-1. Refunds; Form, Restrictions, Extension, Notice

Sec. 1. (a) A producer upon and against whom a producer premium is charged and collected under the provisions of this chapter may demand of and by complying with this chapter receive from the fund through the board a refund of the producer premiums collected from the producer.
(b) The board shall develop the form on which a demand for a refund must be filed. The board shall make the form available to grain buyers, producers, and the public upon request.
(c) Except as provided in subsection (d), a demand for a refund under this section is only valid if:
(1) made in writing and:
(A) hand delivered; or
(B) sent by first class mail;
to the board; and
(2) delivered or sent to the board not more than twelve (12) months after the premium was collected.
(d) The board may for good cause grant an extension for filing a demand for a refund under this chapter.
(e) A producer that requests and receives a refund under this section after June 30, 2015, is not protected and will not be compensated by the grain indemnity program. The board may not consider any refunds claimed before July 1, 2015, in determining whether a producer is covered by the fund.
(f) Before January 1 of each year in which producer premiums were collected during the immediately preceding calendar year, the board shall send a notice to each producer who requested a refund of producer premiums in any previous year. The notice must inform the producer of the time frame in which a request for a refund must be made and the method of filing for a refund.
As added by P.L.250-1995, SEC.1. Amended by P.L.145-2017, SEC.18.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 5. Withdrawal From and Reentry Into the Grain Indemnity Program › 26-4-5-2. Reentry Into Program; Conditions; Date Coverage Commences

Sec. 2. (a) A producer who has received a refund of a producer premium under section 1 of this chapter after June 30, 2015, and has made a request for reentry may reenter the grain indemnity program if the following conditions are satisfied:
(1) The producer petitions the board for approval of reentry into the grain indemnity program by hand delivering or sending by certified mail, return receipt requested, a written request in a form required by the board.
(2) The board reviews the producer's petition for reentry and approves the petition.
(3) The producer pays into the fund:
(A) all previous producer premium refunds; and
(B) interest on the refunds;
as determined by the board.
(b) A producer that reenters the grain indemnity program under subsection (a)(3) is protected by the program from the time all previous producer premium refunds that were claimed after June 30, 2015, and interest on the refunds, are paid to the fund.
(c) A producer who reenters the grain indemnity program may not make a claim on the fund that arises from a failure that occurs before the producer meets the requirements for reentry described in subsection (a).
As added by P.L.250-1995, SEC.1. Amended by P.L.145-2017, SEC.19.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 5. Withdrawal From and Reentry Into the Grain Indemnity Program › 26-4-5-3. Repealed

As added by P.L.250-1995, SEC.1. Amended by P.L.173-1999, SEC.19. Repealed by P.L.75-2010, SEC.35.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 5. Withdrawal From and Reentry Into the Grain Indemnity Program › 26-4-5-4. Educational Information

Sec. 4. The board, in coordination with the agency, shall develop educational information to be made available electronically to producers, grain buyers, and warehouse operators, explaining the following:
(1) The purpose of the fund.
(2) How the fund is operated.
(3) An explanation of coverage under the program, including the duration of coverage and limits on losses.
(4) The process for claiming a refund.
(5) The process for reentering the program.
(6) Where a producer may locate information about the producer's status in the program.
As added by P.L.145-2017, SEC.20.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 6. Payments to Producers Under the Grain Indemnity Program › 26-4-6-1. Restrictions on Use of Fund; Nonseverability of Provision

Sec. 1. (a) The money in the fund:
(1) is not available for any purpose other than the payment of claims approved by the board or refunds to producers who do not want to participate in the fund; and
(2) may not be transferred to any other fund.
(b) The limiting and nontransferability provision of subsection (a) is declared to be nonseverable from the whole of this article. If subsection (a) is held to be invalid, repealed, or substantially amended, this article shall immediately become invalid and the money remaining in the fund shall be distributed to participants in the fund in a manner that is proportional to the amount of producer premiums each producer paid to the fund.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010, SEC.27; P.L.60-2015, SEC.19.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 6. Payments to Producers Under the Grain Indemnity Program › 26-4-6-3. Compensation From Fund; Extension

Sec. 3. (a) Except as provided in subsection (b), within ninety (90) days of the board's approval of a claim, the board shall compensate from the fund, in an amount described in section 4 of this chapter and in the manner described in subsection (c), a claimant who has incurred a financial loss or storage loss due to a failure of a grain buyer or warehouse operator licensed under IC 26-3-7.
(b) The time for payment may be extended if the board and claimant mutually agree and put the terms of the payment in writing.
(c) If:
(1) a claimant engaged in farming operations granted to one (1) or more secured parties one (1) or more security interests in the grain related to the claimant's claim under this section; and
(2) one (1) or more secured parties described in subdivision (1) have given to:
(A) the licensee prior written notice of the security interest under IC 26-1-9.1-320(a)(1) or IC 26-1-9-307(1)(a) before its repeal; and
(B) the board prior written notice of the security interest with respect to the grain described in subdivision (1) sufficient to give the board a reasonable opportunity to cause the issuance of a joint check under this subsection;
the board may compensate the claimant described in subdivision (1) in the amount to which the claimant is entitled under section 4 of this chapter by causing the issuance of a check payable jointly to the order of the claimant and any secured party described in subdivision (1) who has given the notices described in subdivision (2). If only one (1) secured party described in subdivision (1) is a payee, the rights of the secured party in the check shall be to the extent of the indebtedness of the claimant to the secured party. If two (2) or more secured parties described in subdivision (1) are payees, the nature, extent, and priority of their respective rights in the check are determined in the same manner as the nature, extent, and priority of their respective security interest under IC 26-1-9.1.
As added by P.L.250-1995, SEC.1. Amended by P.L.115-1999, SEC.5; P.L.1-2002, SEC.102; P.L.75-2010, SEC.28.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 6. Payments to Producers Under the Grain Indemnity Program › 26-4-6-4. Percentage of Compensation; Partial Payments

Sec. 4. (a) A claimant who has incurred a storage loss due to the failure of a warehouse operator licensed under IC 26-3-7 is entitled to be compensated by the board from the fund for one hundred percent (100%) of the storage loss incurred less all credits and offsets and any producer premium that would have been due on the sale of the grain. The gross amount of the storage loss shall be as determined by the agency for warehouses licensed under IC 26-3-7 or by the United States Department of Agriculture for warehouses licensed under the United States Warehouse Act. The warehouse operator and claimants may submit to the agency evidence related to outstanding charges against stored grain. If the evidence is submitted, the agency shall determine the storage loss payable by the board.
(b) A claimant who has incurred a financial loss due to the failure of a grain buyer is entitled to be compensated by the board from the fund for eighty percent (80%) of the loss incurred less all credits and offsets and any producer premium that should have been due on the sale of the grain. The agency shall determine the loss incurred in the following manner:
(1) For grain that has been priced, the loss shall be the value of the priced grain less any outstanding charges against the grain.
(2) For grain sold to a grain buyer who is also a warehouse operator and that has not been priced, the loss shall be established using the price determined for the storage obligations.
(3) For grain sold to a grain buyer who is not a warehouse operator and that has not been priced, the loss shall be established using a price determined by the agency using the same procedures used by the agency to determine the price at the warehouse.
(c) If a producer appeals under IC 4-21.5-3 an order issued by the director under IC 26-3-7-16.5 that postpones the agency from notifying the board of the amount of loss for proven claimants under IC 26-3-7-16.5(n), the board may issue partial payments to any claimants who have not appealed their claims.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010, SEC.29; P.L.145-2017, SEC.21.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 6. Payments to Producers Under the Grain Indemnity Program › 26-4-6-6. Subrogation of Claim

Sec. 6. A claimant compensated under this chapter is required to subrogate to the board or corporation all the claimant's rights to collect on a bond issued under IC 26-3-7 or the United States Warehouse Act and all the claimant's rights to any other compensation arising from the failure of the grain buyer or warehouse operator. The claimant shall assign all the claimant's rights, title, and interest in any judgment concerning the failure to the board or corporation.
As added by P.L.250-1995, SEC.1. Amended by P.L.173-1999, SEC.20; P.L.75-2010, SEC.30; P.L.145-2017, SEC.22.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 6. Payments to Producers Under the Grain Indemnity Program › 26-4-6-7. Denial of Claim

Sec. 7. The board shall deny the payment of compensation under this chapter to a claimant who has incurred a financial loss or storage loss due to the failure of a warehouse or grain buyer when the board determines the existence of any of the following:
(1) The claimant as payee has failed to present for payment a negotiable instrument issued as payment for grain within ninety (90) days from the date the negotiable instrument is tendered to the claimant in satisfaction of obligations for grain purchased by the licensed grain establishment.
(2) The claimant has engaged in conduct or practices that differ from generally accepted marketing practices within the grain industry to an extent that the claimant's actions have substantially contributed to the claimant's loss. The Indiana grain indemnity board may consider whether contracts not excluded under IC 26-3-7-4 are to be generally accepted marketing practices within the grain industry.
As added by P.L.250-1995, SEC.1. Amended by P.L.139-1996, SEC.13.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 6. Payments to Producers Under the Grain Indemnity Program › 26-4-6-8. Duties of Board Following Failure to Pay by Warehouse or Grain Buyer

Sec. 8. After the agency has determined that a grain buyer or warehouse has defaulted payment or failed, the board shall have the following duties:
(1) Determine the valid claims and the amount of such claims to be paid to claimants for financial losses that were incurred due to the failure of a grain buyer or warehouse operator.
(2) Authorize payment of money from the fund when necessary for the purpose of compensating claimants in accordance with the provisions of this chapter.
(3) Collect money through subrogated claims against bonds filed under IC 26-3-7 in the place of claimants who collected for a loss incurred due to a warehouse or grain buyer failure.
(4) Borrow money as authorized under IC 26-4-3-9 if the fund has insufficient money to cover approved claims.
(5) Deposit into the fund any remaining grain assets of a failed grain buyer or warehouse operator for the purpose of repayment to the fund the money used to pay claimants, subject to any priority lien right a holder of a mortgage, security interest, or other encumbrance may possess under any other applicable law. Any repayment into the fund may not exceed the principal amount paid to claimants plus interest at the rate paid on ninety (90) day United States Treasury bills.
(6) If the amount in the fund is insufficient to pay all approved claims in accordance with this chapter and the board is unable to borrow funds for whatever reason, authorize payment of all the approved claims on a pro rata basis.
As added by P.L.250-1995, SEC.1. Amended by P.L.173-1999, SEC.21; P.L.75-2010, SEC.31.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 7. Rules › 26-4-7-2. Disciplinary Action

Sec. 2. This article does not limit the authority of the director of the agency to take disciplinary action against a grain buyer or warehouse operator licensed under IC 26-3-7 for a violation of IC 26-3-7, this article, or the rules of the agency.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010, SEC.32.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 7. Rules › 26-4-7-3. Effect of Repayment to Fund

Sec. 3. The repayment in full of all obligations to the fund by a grain buyer or warehouse operator does not nullify or modify the effect of any other disciplinary proceeding brought under IC 26-3-7 or this article.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010, SEC.33.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 8. Penalties › 26-4-8-1. Failure to Collect or Pay Premiums

Sec. 1. A person who knowingly or intentionally refuses or fails to:
(1) collect from producers under the program; or
(2) pay producer premiums collected from producers under the program;
commits a Class A misdemeanor. In addition to the criminal penalty under this section, the grain buyer must also pay to the fund money collected from producers and owed to the fund.
As added by P.L.250-1995, SEC.1.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 8. Penalties › 26-4-8-2. Other Violations

Sec. 2. A person who knowingly makes any false statement, representation, or certification, or who knowingly fails to make any statement, representation, or certification, in any record, report, or other document filed or required to be filed or maintained by the director, agency, board, or corporation commits a Class A misdemeanor.
As added by P.L.250-1995, SEC.1.
2023 Indiana Code › Title 26. Commercial Law › Article 4. Grain Indemnity Program › Chapter 8. Penalties › 26-4-8-3. Interference With Board's or Corporation's Performance of Duties

Sec. 3. Except as permitted by law, a person who willfully or knowingly resists, prevents, impedes, or interferes with the board or other agents or employees of the corporation or the board in the performance of the duties assigned under this article commits a Class A misdemeanor.
As added by P.L.250-1995, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 1. Department Created › 27-1-1-1. Creation; Functions

Sec. 1. There is hereby created a department in the state government of the state of Indiana which shall be known as the department of insurance. Said department shall have charge of the organization, supervision, regulation, examination, rehabilitation, liquidation, and/or conservation of all insurance companies to which this title is applicable, shall have charge of the enforcement, administration, and execution of the provisions of this title and the provisions of any other statute applicable to insurance companies, to the insurance department, or to the insurance commissioner, and shall exercise such other powers and perform such other duties as may at any time be imposed or conferred on the department by law. Wherever by any of the provisions of any statute any right, power, or duty is imposed or conferred on the department, the right, power, or duty so imposed or conferred shall be possessed and exercised by the insurance commissioner, unless otherwise provided in that statute, or unless any such right, power, or duty is delegated to the duly appointed deputies, assistants, or employees of the department, or any of them, by an appropriate rule or order of the insurance commissioner.
Formerly: Acts 1945, c.351, s.1. As amended by P.L.252-1985, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 1. Department Created › 27-1-1-2. Insurance Commissioner

Sec. 2. (a) The powers, duties, management and control of the department of insurance are hereby conferred on and vested in the "insurance commissioner". The insurance commissioner shall be appointed by the governor, and shall be familiar with and known to possess a knowledge of the subject of insurance and be skilled in matters pertaining thereto and shall be chosen solely for fitness, irrespective of political beliefs or affiliations. The commissioner shall serve and may be removed at the pleasure of the governor, and shall be the chief executive and administrative officer of the department. The commissioner shall take an oath of office and give bond in the sum of fifty thousand dollars ($50,000) with surety to be approved by the governor for the faithful performance of his duties.
(b) The commissioner is authorized to attend and participate in the meetings of the national convention of insurance commissioners and of the committees thereof and may require the deputies, actuaries, and assistants that the commissioner may designate to attend and participate in such meetings. If the commissioner deems it advisable, the commissioner may request the attorney general or a deputy attorney general to attend and participate in such meetings. The commissioner and the deputies, actuaries, assistants, and attorneys of the department of insurance shall aid in promoting improvements in the insurance laws and the uniformity thereof in the several states. The expense of such attendance by the commissioner, and the deputies, actuaries, assistants, and attorneys shall be paid by the treasurer of state upon the warrant of the commissioner certifying that the commissioner has examined and approved the charges for such expenses.
Formerly: Acts 1945, c.351, s.2; Acts 1959, c.351, s.1. As amended by P.L.100-2012, SEC.62.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 1. Department Created › 27-1-1-3. Personnel

Sec. 3. The commissioner shall appoint a chief deputy, an actuary, a securities deputy, and such other deputies, examiners, assistants and other employees as may be necessary to carry on the work of the department. With respect to all of such positions, aptitude, previous training and experience, intelligence and moral and physical qualifications shall be carefully considered and such employees shall be chosen for their fitness, either professional or practical, as the nature of the position may require, irrespective of their political beliefs or affiliations; it being the responsibility of the commissioner to develop and maintain a highly trained and effective personnel within the insurance department. The actuary of the department shall have had at least five (5) years experience in a responsible actuarial position in a life or casualty insurance company, in consulting actuarial practice, or in a comparable actuarial position in a state or federal agency; however, only two (2) years experience of the type aforesaid shall be required (a) if the applicant is a fellow or associate of the society of actuaries or the casualty actuarial society, or (b) if said applicant has completed courses in actuarial mathematics or theory in an accredited college or university. The technical or professional qualifications of any applicant shall be determined by examination, professional rating or otherwise, as the commissioner shall determine. The securities deputy and any securities clerk shall each give bond in the sum fixed by the governor, but not less than twenty-five thousand dollars ($25,000) surety, for the faithful performance of their duties.
Formerly: Acts 1945, c.351, s.3; Acts 1959, c.351, s.2. As amended by P.L.100-2012, SEC.63.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 1. Department Created › 27-1-1-4. Repealed

Formerly: Acts 1945, c.351, s.4; Acts 1959, c.351, s.3; Acts 1963(ss), c.8, s.1. Repealed by P.L.100-2012, SEC.64.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 1.5. Incorporation by Reference in Ic 27 › 27-1-1.5-1. Amendment of Referenced Naic Documents; Reporting

Sec. 1. (a) This section applies only to a reference in this title that is published by the NAIC.
(b) If a document described in subsection (a) to which a provision of this title refers is amended after the later of the date of publication of the version of the document that is referenced in this title or January 1, 2018, the commissioner shall, before implementing the amendment in the regulation of the business of insurance, report in an electronic format under IC 5-14-6 to the:
(1) legislative council; and
(2) standing committees of the house of representatives and the senate that consider insurance matters;
concerning the existence of the amendment.
(c) Upon reporting to the legislative council and standing committees under subsection (b), the commissioner may implement the reported amendment in the regulation of the business of insurance.
(d) Not later than October 31 of each year, the commissioner shall:
(1) compile a list of all amendments:
(A) described in subsection (b); and
(B) published after October 31 of the preceding year; and
(2) report the list to the legislative council and standing committees described in subsection (b) in an electronic format under IC 5-14-6.
As added by P.L.124-2018, SEC.1. Amended by P.L.10-2019, SEC.114.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 1.5. Incorporation by Reference in Ic 27 › 27-1-1.5-2. Reference to Indiana Code

Sec. 2. Except as otherwise provided in this title, a reference in this title to an Indiana statute is a reference to the statute:
(1) as added to the Indiana Code (or, in the case of a noncode statute, as enacted into law); or
(2) as amended;
whichever occurred most recently.
As added by P.L.124-2018, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 1.5. Incorporation by Reference in Ic 27 › 27-1-1.5-3. Reference to Indiana Administrative Code

Sec. 3. Except as otherwise provided in this title, a reference in this title to an Indiana administrative rule is a reference to the rule:
(1) as added to the Indiana Administrative Code; or
(2) as amended;
whichever occurred most recently.
As added by P.L.124-2018, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 1.5. Incorporation by Reference in Ic 27 › 27-1-1.5-4. Reference to United States Code; Reference to Code of Federal Regulations

Sec. 4. Except as otherwise provided in this title, the following apply to a reference in this title to a federal statute or regulation:
(1) A reference that contains a citation to the:
(A) United States Code location of the federal statute; or
(B) Code of Federal Regulations location of the federal regulation;
is a reference to the federal statute or regulation as in effect on January 1, 2018.
(2) A reference that contains a citation to:
(A) the Public Law by which the federal statute was enacted; or
(B) the issue of the Federal Register that contains the final language of the federal regulation;
is a reference to the federal statute or regulation as in effect on the date of the Public Law or issue of the Federal Register.
As added by P.L.124-2018, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 1.5. Incorporation by Reference in Ic 27 › 27-1-1.5-5. In Effect Date of References in Ic 27; Document Maintenance by Department of Insurance

Sec. 5. (a) Except as otherwise provided in this title or as reported under section 1 of this chapter, a reference:
(1) in this title; and
(2) to a document not described this chapter;
is a reference to the document as in effect on January 1, 2018.
(b) The department shall maintain, as a public record:
(1) an electronic version on the department's Internet web site; and
(2) a paper copy;
of each document to which there is a reference in this title, including each version of a document that is amended over time.
As added by P.L.124-2018, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 1.5. Incorporation by Reference in Ic 27 › 27-1-1.5-7. "Accounting Practices and Procedures Manual"

Sec. 7. "Accounting Practices and Procedures Manual" refers to the document entitled "Accounting Practices and Procedures Manual" that is:
(1) adopted by the NAIC; and
(2) in effect on January 1, 2018.
As added by P.L.124-2018, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 1.5. Incorporation by Reference in Ic 27 › 27-1-1.5-8. "Aicpa Statements on Auditing Standards (Sas) 61, Communication With Audit Committees"

Sec. 8. "AICPA Statements on Auditing Standards (SAS) 61, Communication with Audit Committees" refers to the provision entitled "Statement on Auditing Standards 61, Communication with Audit Committees" that is:
(1) published by the American Institute of Certified Public Accountants; and
(2) in effect on January 1, 2018.
As added by P.L.124-2018, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 1.5. Incorporation by Reference in Ic 27 › 27-1-1.5-9. "American Cancer Society Guidelines"

Sec. 9. "American Cancer Society guidelines" refers to the guidelines published by the American Cancer Society that are in effect on January 1, 2018.
As added by P.L.124-2018, SEC.1.