reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 10. Equity Securities of Insurance Companies › 27-2-10-1. Statement of Equity Ownership and Changes in Holdings

Sec. 1. Every person who is directly or indirectly the beneficial owner of more than ten per cent (10%) of any class of any equity security of a domestic stock insurance company, or who is a director or an officer of such company, shall file in the office of the insurance commissioner of Indiana on or before December 31, 1965, or within ten (10) days after he becomes such beneficial owner, director, or officer, a statement, in such form as the insurance commissioner may prescribe, of the amount of all equity securities of such company of which he is the beneficial owner, and within ten (10) days after the close of each calendar month thereafter, if there has been a change in such ownership during such month, shall file in the office of the insurance commissioner a statement, in such form as the commissioner may prescribe, indicating his ownership at the close of the calendar month and such changes in his ownership as have occurred during such calendar month.
Formerly: Acts 1965, c.5, s.1.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 10. Equity Securities of Insurance Companies › 27-2-10-2. Accounting for Profits From Short Term Equity Trading; Persons Entitled to Bring Action; Limitation of Actions

Sec. 2. For the purpose of preventing the unfair use of information which may have been obtained by such beneficial owner, director, or officer by reason of his relationship to such domestic stock insurance company, any profit realized by him from any purchase and sale, or any sale and purchase, of any equity security of such company within any period of less than six (6) months, unless such security was acquired in good faith in connection with a debt previously contracted, shall inure to and be recoverable by the company, irrespective of any intention on the part of such beneficial owner, director, or officer in entering into such transaction of holding the security purchased or of not repurchasing the security sold for a period exceeding six (6) months. Suit to recover such profit may be instituted at law or in equity in any court of competent jurisdiction by the company, or by the owner of any security of the company in the name and in behalf of the company if the company shall fail or refuse to bring such suit within sixty (60) days after request or shall fail diligently to prosecute the same thereafter; but no such suit shall be brought more than two (2) years after the date such profit was realized. This section shall not be construed to cover any transaction where such beneficial owner was not such both at the time of the purchase and sale, or the sale and purchase, of the security involved, or any transaction or transactions which the insurance commissioner by rules and regulations may exempt as not comprehended within the purpose of this section.
Formerly: Acts 1965, c.5, s.2.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 10. Equity Securities of Insurance Companies › 27-2-10-3. Short Sales; Time for Delivery of Securities Sold

Sec. 3. It shall be unlawful for any such beneficial owner, director, or officer, directly or indirectly, to sell any equity security of such domestic insurance company if the person selling the security or his principal (i) does not own the security sold, or (ii) if owning the security, does not deliver it against such sale within twenty (20) days thereafter, or does not within five (5) days after such sale deposit it in the mails or other usual channels of transportation; but no person shall be deemed to have violated this section if he proves that notwithstanding the exercise of good faith he was unable to make such delivery or deposit within such time, or that to do so would cause undue inconvenience or expense.
Formerly: Acts 1965, c.5, s.3.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 10. Equity Securities of Insurance Companies › 27-2-10-4. Exemption of Dealers

Sec. 4. The provisions of section 2 of this chapter shall not apply to any purchase and sale, or sale and purchase, and the provisions of section 3 of this chapter shall not apply to any sale, of an equity security of a domestic stock insurance company not then or theretofore held by him in an investment account, by a dealer in the ordinary course of his business and incident to the establishment or maintenance by him of a primary or secondary market (otherwise than on an exchange as defined in the Securities Exchange Act of 1934, 15 U.S.C. 78a et seq.) for such security. The insurance commissioner may, by such rules as he deems necessary or appropriate and in the public interest, define and prescribe terms and conditions with respect to equity securities held in an investment account and transactions made in the ordinary course of business and incident to the establishment or maintenance of a primary or secondary market.
Formerly: Acts 1965, c.5, s.4. As amended by P.L.252-1985, SEC.132.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 10. Equity Securities of Insurance Companies › 27-2-10-5. Exemption of Arbitrage Transactions

Sec. 5. The provisions of sections 1, 2, and 3 of this chapter shall not apply to foreign or domestic arbitrage transactions unless made in contravention of such rules as the insurance commissioner may adopt in order to carry out the purposes of this chapter.
Formerly: Acts 1965, c.5, s.5. As amended by P.L.252-1985, SEC.133.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 10. Equity Securities of Insurance Companies › 27-2-10-6. "Equity Security" Defined

Sec. 6. The term "equity security", when used in this chapter, means any stock or similar security, or any security convertible, with or without consideration, into such a security, or carrying any warrant or right to subscribe to or purchase such a security, or any such warrant or right, or any other security which the insurance commissioner shall deem to be of similar nature and consider necessary or appropriate, by such rules as he may prescribe in the public interest or for the protection of investors, to treat as an equity security.
Formerly: Acts 1965, c.5, s.6. As amended by P.L.252-1985, SEC.134.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 10. Equity Securities of Insurance Companies › 27-2-10-7. Exemption of Sale of Registered Securities or Securities in Closely Held Corporation

Sec. 7. The provisions of sections 1, 2, and 3 of this chapter shall not apply to transactions in equity securities of a domestic stock insurance company if:
(a) such securities shall be registered, or shall be required to be registered, pursuant to section 12 of the Securities Exchange Act of 1934 (15 U.S.C. 78l); or
(b) such domestic stock insurance company shall not have any class of its equity securities held of record by one hundred (100) or more persons on the last business day of the year next preceding the year in which equity securities of the company would be subject to the provisions of sections 1, 2, and 3 of this chapter except for the provisions of this subdivision.
Formerly: Acts 1965, c.5, s.7. As amended by P.L.252-1985, SEC.135; P.L.3-1989, SEC.153; P.L.124-2018, SEC.63.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 10. Equity Securities of Insurance Companies › 27-2-10-8. Powers of Commissioner

Sec. 8. The insurance commissioner shall have the power to make such rules as may be necessary for the execution of the functions vested in him by sections 1 through 7 of this chapter and may for such purpose classify domestic stock insurance companies, securities, and other persons or matters within his jurisdiction. No provision of sections 1, 2, and 3 of this chapter imposing any liability shall apply to any act done or omitted in good faith in conformity with any rule of the insurance commissioner, notwithstanding that such rule may, after such act or omission, be amended or rescinded or determined by judicial or other authority to be invalid for any reason.
Formerly: Acts 1965, c.5, s.8. As amended by P.L.252-1985, SEC.136.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 10. Equity Securities of Insurance Companies › 27-2-10-9. Construction of Act

Sec. 9. This chapter shall be construed as supplemental to IC 27-1.
Formerly: Acts 1965, c.5, s.9. As amended by P.L.252-1985, SEC.137; P.L.11-1987, SEC.30.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 11.1. Minors › 27-2-11.1-1. Competence to Contract for Insurance

Sec. 1. No person eighteen (18) years of age or over is incompetent because of age to contract for any insurance or exercise every right, privilege and benefit provided by any insurance contract.
Formerly: Acts 1973, P.L.275, SEC.5.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 11.1. Minors › 27-2-11.1-2. Competence to Receive Insurance Payments

Sec. 2. No person eighteen (18) years of age or over is incompetent because of age to receive and give full acquittance and discharge for payments or execute assignments under the provisions of an insurance contract or under the provisions of a settlement agreement executed in connection with any such contract of insurance.
Formerly: Acts 1973, P.L.275, SEC.5.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 11.1. Minors › 27-2-11.1-3. Individuals Under the Care and Supervision of the Department of Child Services; Motor Vehicle Insurance

Sec. 3. (a) As used in this section, "policy of motor vehicle insurance" means an insurance policy that provides the kind of insurance described in Class 2(f) of IC 27-1-5-1.
(b) An individual who:
(1) is at least sixteen (16) years of age;
(2) is under the care and supervision of the department of child services; and
(3) obtains approval from the juvenile court with jurisdiction over the individual's placement;
may contract for a policy of motor vehicle insurance and exercise every right, privilege, and benefit provided by a policy of motor vehicle insurance.
As added by P.L.116-2017, SEC.8.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 13. Arson Reporting › 27-2-13-0.1. Application of Certain Amendments to Chapter

Sec. 0.1. The addition of section 5 of this chapter by P.L.247-1989 applies only to insurance policies issued or renewed after June 30, 1989.
As added by P.L.220-2011, SEC.426.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 13. Arson Reporting › 27-2-13-1. Definitions

Sec. 1. As used in this chapter:
(a) "Authorized agency" means:
(1) the state fire marshal or a fire department acting under IC 36-8-17;
(2) the superintendent of the state police;
(3) the prosecuting attorney responsible for prosecutions in the county where the fire occurred;
(4) the attorney general; and
(5) an arson investigator.
(b) "Relevant" refers to information having any tendency to make the existence of any fact that is of consequence to the investigation or determination of a fire loss more probable or less probable than it would have been without the evidence.
(c) "Insurer" has the same meaning as in IC 27-1-2-3(x) and includes the Indiana FAIR plan.
(d) "Arson investigator" means an officer of a unit of local government whose duties include the investigation of arson.
As added by Acts 1979, P.L.253, SEC.1. Amended by P.L.139-1984, SEC.1; P.L.245-1987, SEC.16; P.L.1-2006, SEC.485.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 13. Arson Reporting › 27-2-13-2. Release of Information by Insurer to Investigating Authorized Agency

Sec. 2. (a) An authorized agency charged with the responsibility of investigating a fire loss may, in writing, request that an insurer investigating that loss release to the requesting agency any or all relevant information or evidence considered important to the authorized agency, including:
(1) pertinent insurance policy information relevant to a fire loss under investigation and any application for that policy;
(2) policy premium payment records;
(3) history of previous claims made by the insured; and
(4) material relating to the investigation of the loss, including:
(A) statements of any person;
(B) proof of loss; and
(C) other evidence relevant to the investigation.
(b) An insurer shall furnish information requested under this section to the requesting authorized agency.
As added by Acts 1979, P.L.253, SEC.1. Amended by P.L.139-1984, SEC.2.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 13. Arson Reporting › 27-2-13-3. Notice to Authorized Agency by Insurer of Suspected Nonaccidental Fire Loss

Sec. 3. (a) When an insurer has reason to believe that a fire loss in which it has an interest was caused by a means that was not accidental, then, for the purpose of notification and for having that fire loss investigated, the company shall, in writing, notify an authorized agency and provide that agency with all material developed from the insurer's inquiry into the fire loss.
(b) When an insurer provides an authorized agency with notice of a fire loss, it shall be considered sufficient notice for the purpose of this chapter. However, the insurer shall provide the state fire marshal a copy of the information provided under subsection (a), if the notice was provided to an authorized agency other than the state fire marshal.
As added by Acts 1979, P.L.253, SEC.1. Amended by P.L.139-1984, SEC.3; P.L.245-1987, SEC.17; P.L.1-2006, SEC.486.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 13. Arson Reporting › 27-2-13-4. Supplying Information to Other Authorized Agency or Insurer; Immunity From Civil or Criminal Liability

Sec. 4. (a) An authorized agency provided with information under this chapter may release or provide that information to any other authorized agency to further its investigation.
(b) An insurer providing information to an authorized agency under section 3 of this chapter has the right to request and to receive from that agency relevant information. The agency shall provide the requested information within a reasonable time, not to exceed thirty (30) days from the date of the request.
(c) An insurer (or a person acting on its behalf) or an authorized agency who releases or provides evidence or information under this chapter is immune from any civil or criminal liability for providing the evidence or information.
As added by Acts 1979, P.L.253, SEC.1. Amended by P.L.139-1984, SEC.4.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 13. Arson Reporting › 27-2-13-5. Withholding of Insurance Proceeds; Exceptions

Sec. 5. An authorized agency that is investigating a fire believed to have been caused by arson may, in writing, order an insurer to withhold payment of the proceeds of an insurance policy on the damaged or destroyed property for up to thirty (30) days from the date of the order. The insurer may not make a payment during that time, except for payments:
(1) for emergency living expenses;
(2) for emergency action necessary to secure the premises;
(3) necessary to prevent further damage to the premises; or
(4) to a mortgagee who is not the target of investigation by the authorized agency.
As added by P.L.247-1989, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 14. Vehicle Theft Reporting › 27-2-14-1. Definitions

Sec. 1. As used in this chapter:
"Authorized agency" means the state police, the prosecuting attorney responsible for prosecutions in the county where the theft occurred, or any law enforcement agency.
"Insurer" means an insurance company.
"Relevant" means information having any tendency to make the existence of any fact that is of consequence to the investigation or determination of an allegedly fraudulent vehicle theft claim more probable or less probable than it would have been without the evidence.
As added by Acts 1981, P.L.246, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 14. Vehicle Theft Reporting › 27-2-14-2. Fraudulent Claims; Notification by Insurer

Sec. 2. If an insurer has reason to believe that a vehicle theft claim made by an insured is fraudulent, the insurer shall:
(1) notify, in writing, an authorized agency of the suspected fraudulent claim; and
(2) provide the agency with all material developed from the insurer's inquiry into the claim.
As added by Acts 1981, P.L.246, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 14. Vehicle Theft Reporting › 27-2-14-3. Investigative Agencies; Disclosure of Information or Evidence by Insurer

Sec. 3. An authorized agency charged with the responsibility of investigating a vehicle theft may, in writing, require an insurer investigating that loss to release to the requesting agency any or all relevant information or evidence considered important to the authorized agency including:
(1) pertinent insurance policy information relevant to the theft under investigation and any application for that policy;
(2) policy premium payment records;
(3) history of previous claims made by the insured; and
(4) material relating to the investigation, including:
(A) statements of any person;
(B) proof of loss; and
(C) other evidence relevant to the investigation.
As added by Acts 1981, P.L.246, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 14. Vehicle Theft Reporting › 27-2-14-4. Release of Information to Other Agencies; Reciprocal Disclosure to Insurer; Immunity From Civil or Criminal Liability

Sec. 4. (a) An authorized agency provided with information under this chapter may release or provide that information to any other authorized agency to further its investigation.
(b) An insurer providing information to an authorized agency under section 2 or section 3 of this chapter has the right to request and to receive from that agency relevant information. The agency shall provide the requested information within a reasonable time, not to exceed thirty (30) days from the date of the request.
(c) An insurer (or a person acting on its behalf) or an authorized agency that releases or provides evidence or information under this chapter is immune from any civil or criminal liability for providing such evidence or information.
As added by Acts 1981, P.L.246, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 15. Available Insurance Proceeds Set Aside › 27-2-15-1. "Available Insurance Proceeds" Defined

Sec. 1. As used in this chapter, "available insurance proceeds" means the proceeds payable under an insurance policy based upon a claim for damage to or loss of a building or other structure caused by fire or explosion, minus proceeds paid to:
(1) the insured for emergency living expenses;
(2) take emergency action necessary to secure the premises;
(3) prevent further damage to the premises; or
(4) a lienholder or mortgagee who is not the target of an investigation by an authorized agency (as defined in IC 27-2-13-1).
As added by P.L.247-1989, SEC.2.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 15. Available Insurance Proceeds Set Aside › 27-2-15-2.5. "Department"

Sec. 2.5. As used in this chapter, "department" refers to the department of insurance created by IC 27-1-1-1.
As added by P.L.238-2013, SEC.2.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 15. Available Insurance Proceeds Set Aside › 27-2-15-3. "Enforcement Authority" Defined

Sec. 3. As used in this chapter, "enforcement authority" has the meaning set forth in IC 36-7-9-2.
As added by P.L.247-1989, SEC.2.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 15. Available Insurance Proceeds Set Aside › 27-2-15-3.2. "Final Settlement"

Sec. 3.2. (a) As used in this chapter, "final settlement" means a determination:
(1) of the amount owed to an insured:
(A) under the building coverage part of an insurance policy issued by an insurer; and
(B) for damage to or loss of a building or other structure caused by fire or explosion; and
(2) made by any of the following means:
(A) Acceptance of a proof of loss by the insurer.
(B) Execution of a release by the named insured.
(C) Acceptance of an arbitration award by the named insured and the insurer.
(D) Judgment of a court of competent jurisdiction.
(b) The term "final settlement" does not apply to damage or loss related to contents, personal property, or another loss that is not covered under the building coverage part of an insurance policy.
As added by P.L.238-2013, SEC.3.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 15. Available Insurance Proceeds Set Aside › 27-2-15-4. "Insurer" Defined

Sec. 4. As used in this chapter, "insurer" means a fire and marine insurance company, as defined in IC 27-1-2-3(u).
As added by P.L.247-1989, SEC.2.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 15. Available Insurance Proceeds Set Aside › 27-2-15-4.2. "Municipality"

Sec. 4.2. As used in this chapter, "municipality" has the meaning set forth in IC 36-1-2-11.
As added by P.L.238-2013, SEC.4.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 15. Available Insurance Proceeds Set Aside › 27-2-15-4.3. Application of Chapter

Sec. 4.3. (a) This chapter applies to damage to or loss of a building or structure caused by fire or explosion only if all of the following are true:
(1) The municipality in which the building or structure is located is included on the list maintained by the department under section 4.4(b) of this chapter.
(2) The fire or explosion occurs on or after the effective date specified by the department for the municipality under section 4.4(b) of this chapter.
(3) The amount of the final settlement concerning the damage or loss exceeds seventy-five percent (75%) of available insurance proceeds.
(4) If the insurer, in good faith, withheld payment under an insurance policy due to:
(A) suspected arson;
(B) suspected fraud; or
(C) another question concerning coverage;
the reason for withholding payment has been resolved and final settlement concerning the damage or loss has occurred.
As added by P.L.238-2013, SEC.5.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 15. Available Insurance Proceeds Set Aside › 27-2-15-4.4. Municipality Election Regarding Governance by Chapter

Sec. 4.4. (a) A municipality may elect to be governed by this chapter by submitting to the department a written request. The request must:
(1) be approved by adoption of an ordinance by the municipality's legislative body; and
(2) contain contact information for the specific individual who will act on behalf of the enforcement authority with respect to this chapter.
(b) The department shall:
(1) maintain a list of all municipalities that submit a request under subsection (a), including the contact information required by subsection (a)(2);
(2) specify the effective date of each addition of a municipality to the list; and
(3) publish the list on an Internet web site.
(c) A municipality that made an election under subsection (a) may elect to cease being governed by this chapter and may be removed from the list maintained under subsection (b) as follows:
(1) The municipality shall submit to the department a written request, approved by adoption of an ordinance by the municipality's legislative body, to cease being governed by this chapter and to be removed from the list.
(2) The department shall:
(A) amend the list by removing the municipality;
(B) specify on the amended list the effective date of the municipality's removal from the list; and
(C) publish the amended list on the Internet web site described in subsection (b)(3).
(d) A municipality that is governed by this chapter shall remit to the department a one (1) time fee of one hundred dollars ($100).
As added by P.L.238-2013, SEC.6.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 15. Available Insurance Proceeds Set Aside › 27-2-15-4.5. Notice to Enforcement Authority of Existence of Policy

Sec. 4.5. (a) An insurer that:
(1) issued an insurance policy that:
(A) covers a building or other structure that is:
(i) located in a municipality governed by this chapter; and
(ii) damaged by a fire or explosion; and
(B) is in effect at the time that the fire or explosion occurs; and
(2) receives notice of a claim for the damage by the named insured;
shall, not more than fifteen (15) days after a final settlement is reached, notify the enforcement authority of the municipality about the existence of the policy.
(b) The notice to an enforcement authority required by subsection (a) must:
(1) be in writing;
(2) identify the insurer and state the insurer's address; and
(3) identify the building or structure and state the location of the building or structure.
(c) The commissioner may take action under IC 27-1-3-10 and IC 27-1-3-19 against an insurer that violates this section.
As added by P.L.123-1992, SEC.1. Amended by P.L.119-2012, SEC.159; P.L.238-2013, SEC.7.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 15. Available Insurance Proceeds Set Aside › 27-2-15-5. Evidence of Repair Contract; Set Aside of Insurance Proceeds; Amount in Escrow

Sec. 5. (a) This section does not apply to damage or loss to a building or structure described in section 4.5 of this chapter if:
(1) not more than fifteen (15) days after final settlement has occurred concerning the building or structure, the named insured files with the insurer evidence of a contract to repair the building or structure; and
(2) upon receipt of the evidence of a contract to repair, the insurer notifies the municipality that this section does not apply due to the existence of the evidence.
(b) If:
(1) the requirements of subsection (a) are not met; and
(2) the enforcement authority of a municipality that receives notice from an insurer under section 4.5(a) of this chapter certifies to the insurer the amount of demolition or rehabilitation expenses that the municipality anticipates incurring or has incurred under IC 36-7-9 in connection with the building or structure;
the insurer shall remit to the municipality or the enforcement authority the amount determined under subsection (d).
(c) To require the remittance of money under this section, an enforcement authority must:
(1) provide the certification under subsection (b) within fifteen (15) days after the enforcement authority receives notice under section 4.5(a) of this chapter; and
(2) comply with subsection (d).
(d) The amount that must be remitted to the municipality or the enforcement authority under subsection (b) is the lesser of:
(1) ten percent (10%) of the available insurance proceeds, if any;
(2) an amount equal to the amount certified; or
(3) the following:
(A) Seven thousand dollars ($7,000) for a residential building or structure.
(B) Fifteen thousand dollars ($15,000) for a nonresidential building or structure.
For purposes of this subsection, "a residential building or structure" means real property consisting of not more than four (4) residential units, one (1) of which is the principal place of residence of the named insured.
(e) The amount remitted under this section shall be placed by the enforcement authority in an interest bearing escrow account to be administered by the enforcement authority and the municipality. The insured shall be notified by the enforcement authority of the actions taken under this section.
As added by P.L.247-1989, SEC.2. Amended by P.L.123-1992, SEC.2; P.L.238-2013, SEC.8.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 15. Available Insurance Proceeds Set Aside › 27-2-15-6. Claims Against Set Aside; Use of Funds

Sec. 6. (a) Upon a judgment being rendered under IC 36-7-9-13(c) or IC 36-7-9-13(d), the municipality is entitled to the available insurance proceeds set aside only:
(1) to the extent of the costs set forth in IC 36-7-9-12; and
(2) for demolition and rehabilitation expenses certified under section 5(b) of this chapter.
Available insurance proceeds set aside under section 5 of this chapter may not be used to pay the costs of fire service, police service, or any other service provided in the normal course of the municipality's business.
(b) All claims by the municipality against the available insurance proceeds must be made within one (1) year after the date of the fire or explosion or within one (1) year after the final outcome of a case or appeal initiated under IC 36-7-9, whichever is later. Proceeds in the escrow account that are not claimed in this manner shall be paid to the insured.
As added by P.L.247-1989, SEC.2. Amended by P.L.238-2013, SEC.9.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 15. Available Insurance Proceeds Set Aside › 27-2-15-7. Immunity of Insurers

Sec. 7. An insurer complying with this chapter or attempting in good faith to comply with this chapter is immune from civil and criminal liability in connection with actions taken under this chapter, and those actions, including withholding payment of any insurance proceeds under this chapter or releasing or disclosing any information under this chapter, may not be considered to violate IC 27-4-1.
As added by P.L.247-1989, SEC.2.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 15. Available Insurance Proceeds Set Aside › 27-2-15-8. Satisfaction of Contractual Liability

Sec. 8. Insurance proceeds set aside in an escrow account under section 5 of this chapter shall be considered as having been paid to the insured in satisfaction of any contractual liability under the policy.
As added by P.L.247-1989, SEC.2.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 15. Available Insurance Proceeds Set Aside › 27-2-15-9. Immunity

Sec. 9. The department, the commissioner and employees of the department, the state fire marshal, a deputy fire marshal, an enforcement authority, or an officer of a municipality complying with this chapter or attempting in good faith to comply with this chapter is immune from civil and criminal liability in connection with actions taken under this chapter.
As added by P.L.247-1989, SEC.2. Amended by P.L.238-2013, SEC.10.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 15. Available Insurance Proceeds Set Aside › 27-2-15-10. Rules

Sec. 10. The insurance commissioner may adopt rules under IC 4-22-2 necessary to implement this chapter. These rules must include a procedure for the administration of escrow accounts established under section 5 of this chapter, including the disposition of any funds in the escrow account not claimed under section 6 of this chapter.
As added by P.L.247-1989, SEC.2.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 16. Insurance Claim Form Notice › 27-2-16-0.1. Application of Chapter

Sec. 0.1. The addition of this chapter by P.L.193-1991 applies to policies first issued or renewed after June 30, 1991.
As added by P.L.220-2011, SEC.427.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 16. Insurance Claim Form Notice › 27-2-16-2. "Insurer" Defined

Sec. 2. As used in this chapter, "insurer" has the meaning set forth in IC 27-1-2-3(x).
As added by P.L.193-1991, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 16. Insurance Claim Form Notice › 27-2-16-3. Claim Forms; Statement of False Claim Constituting Fraud; Effect of Absence of Statement

Sec. 3. (a) All preprinted claim forms provided by an insurer to a claimant that are required as a condition of payment of a claim must contain a statement that clearly states in substance the following:
"A person who knowingly and with intent to defraud an insurer files a statement of claim containing any false, incomplete, or misleading information commits a felony.".
(b) The lack of a statement required under subsection (a) does not constitute a defense against a prosecution under IC 35-43-5.
As added by P.L.193-1991, SEC.1. Amended by P.L.181-2005, SEC.1; P.L.174-2021, SEC.24.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 16. Insurance Claim Form Notice › 27-2-16-4. Identification Cards and Benefit Booklets; Utilization Review Determination Clause

Sec. 4. An insurer shall include on each identification card and on all benefit booklets that are delivered to an enrollee (as defined in IC 27-8-17-3) whose policy requires a utilization review determination (as defined in IC 27-8-17-8) a printed statement in boldface 8 point type in the benefit booklets and in 6 point type on the identification cards that reads substantially as follows:
"NOTICE: Precertification or preauthorization does NOT guarantee coverage for or the payment of the service or procedure reviewed.".
As added by P.L.132-1994, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 17. Discrimination in Insurance › 27-2-17-1. "Commissioner" Defined

Sec. 1. As used in this chapter, "commissioner" means the insurance commissioner of Indiana.
As added by P.L.130-1994, SEC.37 and P.L.116-1994, SEC.48.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 17. Discrimination in Insurance › 27-2-17-2. "Department" Defined

Sec. 2. As used in this chapter, "department" means the department of insurance of Indiana.
As added by P.L.130-1994, SEC.37 and P.L.116-1994, SEC.48.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 17. Discrimination in Insurance › 27-2-17-3. "Independent Insurance Producer" Defined

Sec. 3. As used in this chapter, "independent insurance producer" means an insurance producer who:
(1) represents an insurer in the sale of insurance as an independent contractor rather than as an employee; and
(2) is not limited to representing:
(A) one (1) insurer; or
(B) several insurers that are under common management.
As added by P.L.130-1994, SEC.37 and P.L.116-1994, SEC.48. Amended by P.L.178-2003, SEC.32.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 17. Discrimination in Insurance › 27-2-17-4. "Property or Casualty Insurance" Defined

Sec. 4. As used in this chapter, "property or casualty insurance" means a type of insurance described in Class 2 and Class 3 of IC 27-1-5-1. However, the term does not mean insurance described in Class 2(a) of IC 27-1-5-1.
As added by P.L.130-1994, SEC.37 and P.L.116-1994, SEC.48.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 17. Discrimination in Insurance › 27-2-17-5. Discrimination Based on Geographical Location Prohibited

Sec. 5. (a) This chapter applies to an insurer that obtains a certificate of authority under IC 27-1-3-20 as:
(1) a domestic insurer formed under IC 27-1-6;
(2) a foreign insurer that has become a domestic insurer under IC 27-1-6.5; or
(3) a foreign or an alien insurer under IC 27-1-17.
(b) An insurer that:
(1) obtains a certificate of authority authorizing the insurer to provide property or casualty insurance in Indiana; and
(2) provides property or casualty insurance covering risks in any location in Indiana;
may not cancel or refuse to issue or renew a policy of property or casualty insurance based solely on the geographical location of the risk within Indiana. This subsection does not preclude an insurer from refusing to issue or renew or from canceling a policy based on sound underwriting or actuarial principles reasonably related to actual or anticipated loss experience or any other sound business purpose.
(c) If an insurer is found by the commissioner to have violated subsection (b), the commissioner may, after a hearing, suspend or revoke the certificate of authority of the insurer.
(d) Any determination made by the commissioner under this section is subject to IC 4-21.5.
(e) Except as provided in subsection (f), the department has exclusive jurisdiction to investigate any alleged violation of this section.
(f) Subsection (e) is not intended to restrict the jurisdiction, if any, the civil rights commission may have under IC 22-9-1-4.
As added by P.L.130-1994, SEC.37 and P.L.116-1994, SEC.48.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 17. Discrimination in Insurance › 27-2-17-6. Appointment of Independent Insurance Producers; Jurisdiction; Hearing; Violation; Administrative Orders and Procedures; Evidence

Sec. 6. (a) An insurance company that issues property or casualty insurance shall not discriminate in the appointment of an independent insurance producer on the basis of race, color, national origin, or gender.
(b) Except as provided in subsection (c), the department has exclusive jurisdiction to investigate any complaints of discrimination in the appointment of independent insurance producers in violation of subsection (a).
(c) If the commissioner of the department determines after a hearing that an insurance company has violated subsection (a), the commissioner may order one (1) of the following remedies:
(1) Payment of a civil penalty of not more than two thousand dollars ($2,000) for each violation.
(2) Suspension or revocation of the insurance company's certificate of authority if the commissioner determines that the violation was willful or wanton and that similar violations have been committed by that company with a frequency that constitutes a general business practice.
(3) Any other remedy agreed to by the department and the insurance company.
(d) Any determination made by the commissioner under this section is subject to IC 4-21.5.
(e) Findings of the department under this section may not be considered as evidence in any civil action other than an appeal as provided under IC 4-21.5.
As added by P.L.116-1994, SEC.48 and P.L.130-1994, SEC.37. Amended by P.L.2-1995, SEC.103; P.L.178-2003, SEC.33.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 18. Disclosure of Material Transactions › 27-2-18-1. "Asset Acquisition" Defined

Sec. 1. (a) As used in this chapter, "asset acquisition" includes every purchase, lease, exchange, merger, consolidation, succession, or other acquisition.
(b) The term does not include the construction on or development of real property by or for the reporting insurer or the acquisition of materials for construction or development.
As added by P.L.251-1995, SEC.17.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 18. Disclosure of Material Transactions › 27-2-18-2. "Asset Disposition" Defined

Sec. 2. As used in this chapter, "asset disposition" includes every sale, lease, exchange, merger, consolidation, mortgage, hypothecation, assignment (whether for the benefit of creditors or otherwise), abandonment, destruction, or other disposition.
As added by P.L.251-1995, SEC.17.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 18. Disclosure of Material Transactions › 27-2-18-3. "Domicile" Defined

Sec. 3. As used in this chapter, "domicile" means the following:
(1) For a corporation, the state in which the purchasing group is incorporated.
(2) For an unincorporated entity, the state of its principal place of business.
As added by P.L.251-1995, SEC.17.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 18. Disclosure of Material Transactions › 27-2-18-4. "Material Acquisition" Defined

Sec. 4. As used in this chapter, "material acquisition" means an asset acquisition or a series of related asset acquisitions during any thirty (30) day period that:
(1) is nonrecurring;
(2) is not in the normal course of business; and
(3) involves more than five percent (5%) of the reporting insurer's total admitted assets as reported in the insurer's most recent statutory statement filed with the department.
As added by P.L.251-1995, SEC.17.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 18. Disclosure of Material Transactions › 27-2-18-5. "Material Disposition" Defined

Sec. 5. As used in this chapter, "material disposition" means an asset disposition or a series of related asset dispositions during any thirty (30) day period that:
(1) is nonrecurring;
(2) is not in the normal course of business; and
(3) involves more than five percent (5%) of the reporting insurer's total admitted assets as reported in the insurer's most recent statutory statement filed with the department.
As added by P.L.251-1995, SEC.17.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 18. Disclosure of Material Transactions › 27-2-18-6. "Material Nonrenewal, Cancellation, or Revision of a Ceded Reinsurance Agreement" Defined; Reportable Material Revisions

Sec. 6. (a) As used in this chapter, "material nonrenewal, cancellation, or revision of a ceded reinsurance agreement" has the following meanings:
(1) When used in connection with property and casualty business, including accident and sickness insurance business written by a property and casualty insurer, the term means a nonrenewal, cancellation, or revision that affects:
(A) more than fifty percent (50%) of the insurer's total ceded written premium; or
(B) more than fifty percent (50%) of the insurer's total ceded indemnity and loss adjustment reserves.
(2) When used in connection with life insurance or accident and sickness insurance business, the term means a nonrenewal, cancellation, or revision that affects more than fifty percent (50%) of the total reserve credit taken for business ceded on an annualized basis, as indicated in the insurer's most recent annual statement.
(b) The following events constitute a material revision of a ceded reinsurance agreement for property and casualty insurance, life insurance, or accident and sickness insurance business meeting the requirements of subsection (a) and must be reported:
(1) An authorized reinsurer representing more than ten percent (10%) of a total cession is replaced by one (1) or more unauthorized reinsurers.
(2) Previously established collateral requirements have been reduced or waived as respects one (1) or more unauthorized reinsurers representing collectively more than ten percent (10%) of a total cession.
(c) A nonrenewal, cancellation, or revision of a ceded reinsurance agreement is not material and a filing is not required under subsection (a) or (b) for the following:
(1) In connection with property and casualty business, including accident and sickness insurance business written by a property and casualty insurer, the insurer's total ceded written premium represents, on an annualized basis, less than ten percent (10%) of the insurer's total written premiums for direct and assumed business.
(2) In connection with life insurance or accident and sickness insurance business, the total reserve credit taken for business ceded represents, on an annualized basis, less than ten percent (10%) of the statutory reserve requirement before any cession.
As added by P.L.251-1995, SEC.17.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 18. Disclosure of Material Transactions › 27-2-18-7. Reports

Sec. 7. (a) Except as provided in subsection (b), an insurer domiciled in Indiana shall file a report with the commissioner disclosing:
(1) a material acquisition;
(2) a material disposition; and
(3) a material nonrenewal, cancellation, or revision of a ceded reinsurance agreement.
(b) A report of a transaction described in subsection (a) does not have to be filed with the commissioner under this section if the transaction was previously submitted to the commissioner for review, approval, or information purposes under other provisions of IC 27, rules adopted by the department, or other requirements.
As added by P.L.251-1995, SEC.17.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 18. Disclosure of Material Transactions › 27-2-18-8. Time of Filing

Sec. 8. The report required in section 7 of this chapter must be filed not later than fifteen (15) days after the end of the calendar month in which the transaction that requires the filing occurred.
As added by P.L.251-1995, SEC.17.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 18. Disclosure of Material Transactions › 27-2-18-9. Filing Copies

Sec. 9. One (1) complete copy of the report, including any exhibits or other attachments filed with the report, shall be filed with the department.
As added by P.L.251-1995, SEC.17. Amended by P.L.81-2012, SEC.20.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 18. Disclosure of Material Transactions › 27-2-18-10. Reports as Confidential Information; Exceptions

Sec. 10. (a) Except as provided in subsections (b) and (c), any report obtained by or disclosed to the commissioner under this chapter:
(1) shall be confidential information; and
(2) shall not, without the prior written consent of the insurer to which it pertains, be:
(A) subject to subpoena; or
(B) made public by the commissioner, the National Association of Insurance Commissioners, or any other person.
(b) A report obtained under this chapter may be made available to other departments of insurance in other states subject to IC 27-1-3-10.5.
(c) The commissioner may, after giving notice and an opportunity to be heard to the insurer that would be affected by the release of information under this chapter:
(1) determine that the interests of policyholders, shareholders, or the public will be served by the publication of information in the report under section 7 of this chapter; and
(2) publish all or any part of the information in such manner as the commissioner considers appropriate.
(d) The commissioner may not:
(1) disclose; or
(2) subject to subpoena;
financial information regarding material transactions disclosed by an insurer under this chapter.
As added by P.L.251-1995, SEC.17.
2023 Indiana Code › Title 27. Insurance › Article 2. Powers and Duties of Insurers › Chapter 18. Disclosure of Material Transactions › 27-2-18-11. Contents of Reports of Material Acquisitions and Dispositions

Sec. 11. The following information must be disclosed in any report of a material asset acquisition or asset disposition:
(1) The date of the transaction.
(2) The manner of the asset acquisition or asset disposition.
(3) A description of the assets involved.
(4) The nature and amount of the consideration given or received in connection with the asset acquisition or the asset disposition.
(5) The purpose of or reason for the transaction.
(6) The manner by which the amount of consideration was determined.
(7) The gain or loss recognized or realized as a result of the transaction.
(8) The name of each person from whom the assets were acquired or to whom the assets were disposed.
As added by P.L.251-1995, SEC.17.