reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3. Formal Proceedings › 27-9-3-42. Payment of Distributions

Sec. 42. Under the direction of the Marion County circuit court, the liquidator shall pay distributions in a manner that will assure the proper recognition of priorities and a reasonable balance between the expeditious completion of the liquidation and the protection of unliquidated and undetermined claims, including third party claims. Distribution of assets in kind may be made at valuations set by agreement between the liquidator and the creditor and approved by the Marion County circuit court.
As added by Acts 1979, P.L.255, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3. Formal Proceedings › 27-9-3-43. Deposit of Unclaimed Funds

Sec. 43. (a) All unclaimed funds subject to distribution remaining in the liquidator's hands when the liquidator is ready to apply to the Marion County circuit court for discharge, including the amount distributable to any creditor, shareholder, member, or other person who is unknown or cannot be found, shall be deposited with the treasurer of state, and shall be paid without interest except in accordance with section 40 of this chapter to the person entitled to it or his legal representative upon proof satisfactory to the treasurer of state of his right to it. Any amount on deposit that is not claimed within six (6) years from the discharge of the liquidator shall be treated as if abandoned and shall be escheated without formal escheat proceedings and be deposited in the state general fund.
(b) All funds withheld under section 35 of this chapter and not distributed shall upon discharge of the liquidator be deposited with the treasurer of state and paid by him as required by section 40 of this chapter. Any sums remaining, which under section 40 of this chapter would revert to the undistributed assets of the insurer, shall be transferred to the treasurer of state and become the property of the state as provided by subsection (a), unless the commissioner in his discretion petitions the Marion County circuit court to reopen the liquidation under section 45 of this chapter.
As added by Acts 1979, P.L.255, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3. Formal Proceedings › 27-9-3-44. Discharge of Liquidator

Sec. 44. (a) When all assets justifying the expense of collection and distribution have been collected and distributed under IC 27-9, the liquidator shall apply to the Marion County circuit court for discharge. The court may grant the discharge and make any other orders, including an order to transfer any remaining funds that are uneconomic to distribute, as may be considered appropriate.
(b) Any other person may apply to the Marion County circuit court at any time for an order under subsection (a). If the application is denied, the applicant shall pay the costs and expenses of the liquidator in resisting the application, including a reasonable attorney's fee.
As added by Acts 1979, P.L.255, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3. Formal Proceedings › 27-9-3-45. Reopening of Proceedings

Sec. 45. After the liquidation proceeding has been terminated and the liquidator discharged, the commissioner or other interested party may at any time petition the Marion County circuit court to reopen the proceedings for good cause, including the discovery of additional assets. If the court is satisfied that there is justification for reopening, the court shall order it.
As added by Acts 1979, P.L.255, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3. Formal Proceedings › 27-9-3-46. Destruction of Records

Sec. 46. Whenever it appears to the commissioner that the records of any insurer in process of liquidation or completely liquidated are no longer useful, he may recommend to the Marion County circuit court that certain records be destroyed. The court shall direct what records should be retained for future reference and what should be destroyed.
As added by Acts 1979, P.L.255, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3. Formal Proceedings › 27-9-3-47. Audit of Books of Commissioner Relating to Receivership

Sec. 47. The Marion County circuit court may, as the court considers desirable, cause audits to be made of the books of the commissioner relating to any receivership established under IC 27-9, and a report of each audit must be filed with the commissioner and with the court. The books, records, and other documents of the receivership must be made available to the auditor at any time without notice. The expense of each audit shall be considered a cost of the administration of the receivership.
As added by Acts 1979, P.L.255, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-1. "Actual Direct Compensatory Damages"

Sec. 1. (a) As used in this chapter, "actual direct compensatory damages" includes:
(1) normal and reasonable costs of cover; and
(2) other reasonable measures of damages used in the derivatives market, the securities market, or another market for contract claims.
(b) The term does not include:
(1) punitive or exemplary damages;
(2) damages for lost profit or lost opportunity; or
(3) damages for pain and suffering.
As added by P.L.11-2011, SEC.36. Amended by P.L.13-2013, SEC.70.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-2. "Business Day"

Sec. 2. As used in this chapter, "business day" means a day other than:
(1) Saturday;
(2) Sunday; or
(3) a day on which either the New York Stock Exchange or the Federal Reserve Bank of New York is closed.
As added by P.L.11-2011, SEC.36.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-3. "Commodity Contract"

Sec. 3. As used in this chapter, "commodity contract" means any of the following:
(1) A contract for the purchase or sale of a commodity:
(A) for future delivery on; or
(B) subject to the rules of;
a board of trade or contract market under the federal Commodity Exchange Act (7 U.S.C. 1 et seq.) or a board of trade outside the United States.
(2) An agreement that is:
(A) subject to regulation under Section 19 of the federal Commodity Exchange Act (7 U.S.C. 1 et seq.); and
(B) commonly known to the commodities trade as a margin account, margin contract, leverage account, or leverage contract.
(3) An agreement or transaction that is:
(A) subject to regulation under Section 4c(b) of the federal Commodity Exchange Act (7 U.S.C. 1 et seq.); and
(B) commonly known to the commodities trade as a commodity option.
(4) A combination of the contracts, agreements, or transactions described in subdivisions (1) through (3).
(5) An option to enter into:
(A) a contract;
(B) an agreement;
(C) a transaction; or
(D) a combination of contracts, agreements, or transactions;
described in subdivisions (1) through (4).
As added by P.L.11-2011, SEC.36.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-4. "Contractual Right"

Sec. 4. As used in this chapter, "contractual right" includes the following:
(1) A right set forth in a rule, bylaw, or resolution of the governing board of any of the following:
(A) A derivatives clearing organization (as defined in the federal Commodity Exchange Act (7 U.S.C. 1 et seq.)).
(B) A multilateral clearing organization (as defined in the Federal Deposit Insurance Corporation Improvement Act (12 U.S.C. 1821)).
(C) A national securities exchange, national securities association, or securities clearing agency.
(D) A contract market designated under the federal Commodity Exchange Act (7 U.S.C. 1 et seq.).
(E) A derivatives transaction execution facility registered under the federal Commodity Exchange Act (7 U.S.C. 1 et seq.).
(F) A board of trade (as defined in the federal Commodity Exchange Act (7 U.S.C. 1 et seq.)).
(2) A right, regardless of whether evidenced in writing, arising:
(A) under statutory or common law;
(B) under the law merchant; or
(C) by reason of normal business practice.
As added by P.L.11-2011, SEC.36.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-5. "Forward Contract"

Sec. 5. As used in this chapter, "forward contract" has the meaning set forth in the Federal Deposit Insurance Act (12 U.S.C. 1821).
As added by P.L.11-2011, SEC.36.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-6. "Netting Agreement"

Sec. 6. (a) As used in this chapter, "netting agreement" means a new agreement that:
(1) allows the parties to a previous agreement to aggregate the amounts owing by each party under all transactions that are outstanding under the previous agreement; and
(2) replaces the amounts owing under the previous agreement with a single net amount:
(A) resulting from the aggregation under subdivision (1); and
(B) owing:
(i) by one (1) party; and
(ii) to the other party;
to the previous agreement.
(b) The single net amount described in subsection (a)(2) may be determined as follows:
(1) In the event of a relevant default (including counterparty bankruptcy) as specified in the previous agreement, all transactions of a certain type are netted at:
(A) market value; or
(B) if:
(i) otherwise specified in the contract; or
(ii) market value is impossible to obtain;
an amount equal to the loss suffered by the nondefaulting party as a result of the default.
(2) Under the new agreement, the parties agree that legal obligations of the parties to make required payments under at least one (1) series of related transactions under the previous agreement are:
(A) canceled; and
(B) replaced by a new legal obligation to make payments on only the single net amount under the new agreement.
(3) In the event of a cash settled trade, the parties agree that legal obligations of:
(A) the parties; or
(B) a party and parents or affiliates of a party;
under related or unrelated transactions are canceled and replaced by the cash settled trade.
As added by P.L.11-2011, SEC.36.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-7. "Qualified Financial Contract"

Sec. 7. As used in this chapter, "qualified financial contract" means a commodity contract, forward contract, repurchase agreement, securities contract, swap agreement, or a similar agreement, as determined by the commissioner.
As added by P.L.11-2011, SEC.36.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-8. "Repurchase Agreement"

Sec. 8. As used in this chapter, "repurchase agreement" has the meaning set forth in the Federal Deposit Insurance Act (12 U.S.C. 1821).
As added by P.L.11-2011, SEC.36.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-9. "Securities Contract"

Sec. 9. As used in this chapter, "securities contract" has the meaning set forth in the Federal Deposit Insurance Act (12 U.S.C. 1821).
As added by P.L.11-2011, SEC.36.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-10. "Swap Agreement"

Sec. 10. As used in this chapter, "swap agreement" has the meaning set forth in the Federal Deposit Insurance Act (12 U.S.C. 1821).
As added by P.L.11-2011, SEC.36.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-11. "Walkaway Clause"

Sec. 11. As used in this chapter, "walkaway clause" means a provision in a netting agreement or qualified financial contract that, after calculation of the value of a party's position or an amount due to or from a party under the netting agreement or qualified financial contract upon termination, liquidation, or acceleration of the netting agreement or qualified financial contract, either:
(1) does not create a payment obligation of a party; or
(2) voids any part of a payment obligation of a party;
solely because of the party's status as a nondefaulting party.
As added by P.L.11-2011, SEC.36.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-12. Rights

Sec. 12. Notwithstanding any other provision of this title to the contrary, a person may exercise any of the following:
(1) A contractual right to cause the termination, liquidation, acceleration, or close-out of obligations in connection with a netting agreement or qualified financial contract with an insurer due to:
(A) the insolvency, financial condition, or default of the insurer if the right is enforceable under applicable law other than this title; or
(B) the commencement of a formal delinquency proceeding under IC 27-9-3.
(2) A right under:
(A) a pledge, security, collateral, reimbursement, guarantee agreement, or similar security agreement; or
(B) an arrangement or credit enhancement relating to at least one (1) netting agreement or qualified financial contract.
(3) A right to set off or net out a termination value, payment amount, or other transfer obligation arising in connection with at least one (1) qualified financial contract in which the counterparty or the counterparty's guarantor is organized under the laws of:
(A) the United States; or
(B) a state or foreign jurisdiction approved as eligible for netting by the Securities Valuation Office of the NAIC.
As added by P.L.11-2011, SEC.36. Amended by P.L.148-2017, SEC.19.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-13. Damages

Sec. 13. (a) If a counterparty to a netting agreement or qualified financial contract with an insurer that is subject to a proceeding under IC 27-9-3 terminates, liquidates, closes out, or accelerates the netting agreement or qualified financial contract, damages must be measured as of the date of termination, liquidation, close-out, or acceleration.
(b) The amount of a claim for damages under subsection (a) is equal to the actual direct compensatory damages calculated in accordance with section 19 of this chapter.
As added by P.L.11-2011, SEC.36.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-14. Transfer of Amounts With Receiver

Sec. 14. (a) Notwithstanding a walkaway clause in a netting agreement or qualified financial contract, upon termination of the netting agreement or qualified financial contract, any net or settlement amount owed by a nondefaulting party to an insurer against which an application or petition has been filed under IC 27-9-3 must be transferred:
(1) to; or
(2) according to the order of;
the receiver for the insurer, regardless of whether the insurer is the defaulting party.
(b) For purposes of subsection (a), a limited two-way payment or first method provision in a netting agreement or qualified financial contract with an insurer that has defaulted is considered to be a full two-way payment or second method provision as against the defaulting insurer.
As added by P.L.11-2011, SEC.36.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-15. Transfers by Receiver

Sec. 15. In making a transfer of a netting agreement or qualified financial contract of an insurer that is subject to a proceeding under IC 27-9-3, the receiver shall either:
(1) transfer to one (1) party, other than an insurer subject to a proceeding under IC 27-9-3, all netting agreements and qualified financial contracts between a counterparty or an affiliate of a counterparty and the insurer that is the subject of the proceeding, including:
(A) all rights and obligations of each party; and
(B) all property, including guarantees or credit enhancements, that secures claims of each party;
under each netting agreement and qualified financial contract; or
(2) transfer none of the netting agreements, qualified financial contracts, rights, obligations, or property referred to in subdivision (1) with respect to a counterparty or an affiliate of a counterparty.
As added by P.L.11-2011, SEC.36.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-16. Notice to Parties of Transfer

Sec. 16. If an insurer's receiver makes a transfer of at least one (1) netting agreement or qualified financial contract under section 14 of this chapter, the receiver shall use the receiver's best efforts to notify any person that is a party to the netting agreement or qualified financial contract before noon, local time of the receiver, on the business day following the transfer.
As added by P.L.11-2011, SEC.36.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-17. Avoidance of Transfer by Receiver

Sec. 17. Notwithstanding IC 27-9-3 and this chapter, a receiver may not avoid a transfer of money or other property arising in connection with:
(1) a netting agreement or qualified financial contract;
(2) a pledge, security, collateral, reimbursement, guarantee agreement, or similar security agreement; or
(3) an arrangement or credit enhancement relating to a netting agreement or qualified financial contract;
made before the commencement of a formal delinquency proceeding under IC 27-9-3. However, a receiver may avoid a transfer made with actual intent to hinder, delay, or defraud the insurer, the insurer's receiver, or creditors.
As added by P.L.11-2011, SEC.36.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-18. Receiver's Right of Disaffirmance or Repudiation

Sec. 18. In exercising a receiver's right of disaffirmance or repudiation with respect to a netting agreement or qualified financial contract to which an insurer is a party, the receiver for the insurer shall either:
(1) disaffirm or repudiate all netting agreements and qualified financial contracts between a counterparty or an affiliate of a counterparty and the insurer that is the subject of the proceeding; or
(2) disaffirm or repudiate none of the netting agreements and qualified financial contracts referred to in subdivision (1) with respect to a counterparty or an affiliate of a counterparty.
As added by P.L.11-2011, SEC.36.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-19. Claim Arising From Disaffirmance or Repudiation

Sec. 19. (a) Notwithstanding IC 27-9-3 and this chapter, a claim of a counterparty against an estate arising from an insurer's receiver's disaffirmance or repudiation of a netting agreement or qualified financial contract that has not been previously affirmed in the liquidation or immediately preceding conservation or rehabilitation case must be determined and allowed or disallowed:
(1) as if the claim had arisen before the date of the filing of the petition for liquidation; or
(2) if a conservation or rehabilitation proceeding is converted to a liquidation proceeding, as if the claim had arisen before the date of the filing of the petition for conservation or rehabilitation.
(b) The amount of a claim described in subsection (a) is the actual direct compensatory damages determined as of the date of the disaffirmance or repudiation of the netting agreement or qualified financial contract.
As added by P.L.11-2011, SEC.36.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 3.1. Treatment of Certain Agreements › 27-9-3.1-20. Application of Counterparty Rights

Sec. 20. All rights of counterparties under this chapter apply to netting agreements and qualified financial contracts entered into on behalf of the general account or separate accounts if the assets of each separate account are:
(1) available only to counterparties to netting agreements and qualified financial contracts; and
(2) entered into on behalf of the separate account.
As added by P.L.11-2011, SEC.36.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 4. Interstate Relations › 27-9-4-1. Conservators for Alien or Foreign Insurers; Grounds for Appointment; Procedure; Order; Termination

Sec. 1. (a) If a domiciliary liquidator has not been appointed, the commissioner may apply to the Marion County circuit court by verified petition for an order directing him to act as conservator to conserve the property of an alien insurer not domiciled in Indiana or a foreign insurer on any one (1) or more of the following grounds:
(1) Any of the grounds stated in IC 27-9-3-1.
(2) That any part of its property has been sequestered by official action in any other state.
(3) That enough of its property has been sequestered in a foreign country to give reasonable cause to fear that the insurer is or may become insolvent.
(4) That its certificate of authority to do business in Indiana has been revoked or that none was ever issued.
(5) That there are residents of Indiana with outstanding claims or outstanding policies.
(b) When an order is sought under subsection (a), the Marion County circuit court shall cause the insurer to be given a notice and a time within which to respond to the request as is reasonable under the circumstances.
(c) The Marion County circuit court may issue the order in whatever terms the court considers appropriate. The filing or recording of the order with the clerk of the Marion County circuit court or the recorder of deeds of the county in which the principal business of the company is located, shall impart the same notice as a deed, bill of sale, or other evidence of title duly filed or recorded with that recorder of deeds would have imparted.
(d) The conservator may at any time petition for and the Marion County circuit court may grant an order under section 2 of this chapter to liquidate assets of a foreign or alien insurer under conservation, or, if appropriate, for an order under section 4 of this chapter to be appointed ancillary receiver.
(e) The conservator may at any time petition the Marion County circuit court for an order terminating conservation of an insurer. If the court finds that the conservation is no longer necessary, the court shall order the insurer be restored to possession of its property and the control of its business. The court may also make such finding and issue such order at any time upon motion of any interested party, but if that motion is denied all costs shall be assessed against such party.
As added by Acts 1979, P.L.255, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 4. Interstate Relations › 27-9-4-2. Liquidation of Assets of Foreign or Alien Insurer; Grounds; Procedure; Order; Domiciliary Proceedings; Federal Court Proceedings; Payment of Claims

Sec. 2. (a) If no domiciliary receiver has been appointed, the commissioner may apply to the Marion County circuit court by verified petition for an order directing him to liquidate the assets found in Indiana of a foreign insurer or an alien insurer not domiciled in Indiana, on any of the grounds:
(1) specified in IC 27-9-3-1 or IC 27-9-3-6; or
(2) specified in section 1(a)(2) through 1(a)(4).
(b) When an order is sought under subsection (a), the Marion County circuit court shall cause the insurer to be given a notice and a time to respond to the request as is reasonable under the circumstances.
(c) If it appears to the court that the best interests of creditors, policyholders, and the public require, the Marion County circuit court may issue an order to liquidate in whatever terms the court considers appropriate. The filing or recording of the order with the clerk of the Marion County circuit court or the recorder of deeds of the county in which the principal business of the company is located or the county in which its principal office or place of business is located, shall impart the same notice as a deed, bill of sale, or other evidence of title duly filed or recorded with that recorder of deeds would have imparted.
(d) If a domiciliary liquidator is appointed in a reciprocal state while a liquidation is proceeding under this section, the liquidator under this section shall act as ancillary receiver under section 4 of this chapter. If a domiciliary liquidator is appointed in a nonreciprocal state while a liquidation is proceeding under this section, the liquidator under this section may petition the Marion County circuit court for permission to act as ancillary receiver under section 4 of this chapter.
(e) On the same grounds as are specified in subsection (a), the commissioner may petition any appropriate federal district court to be appointed receiver to liquidate that part of the insurer's assets and business over which the court will exercise jurisdiction, or any lesser part of the assets that the commissioner considers desirable for the protection of the policyholders and creditors in Indiana.
(f) The district court may order the commissioner, when he has liquidated the assets of a foreign or alien insurer under this section, to pay claims of residents of Indiana against the insurer under such rules as to the liquidation of insurers under IC 27-9 as are otherwise compatible with this section.
As added by Acts 1979, P.L.255, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 4. Interstate Relations › 27-9-4-3. Insurers Domiciled in Reciprocal States; Title to Property in Indiana; Filing of Claims by Indiana Residents

Sec. 3. (a) The domiciliary liquidator of an insurer domiciled in a reciprocal state shall, except as to special deposits and security on secured claims under section 4(c) of this chapter, be vested by operation of law with the title to all of the assets, property, contracts, and rights of action, insurance producers' balances, and all of the books, accounts, and other records of the insurer located in Indiana. The date of vesting shall be the date of the filing of the petition, if that date is specified by the domiciliary law for the vesting of property in the domiciliary state. Otherwise, the date of vesting shall be the date of entry of the order directing possession to be taken. The domiciliary liquidator shall have the immediate right to recover balances due from insurance producers and to obtain possession of the books, accounts, and other records of the insurer located in Indiana. The domiciliary liquidator also shall have the right to recover all other assets of the insurer located in Indiana, subject to section 4 of this chapter.
(b) If a domiciliary liquidator is appointed for an insurer not domiciled in a reciprocal state, the commissioner shall be vested by operation of law with the title to all of the property, contracts and rights of action, and all of the books, accounts, and other records of the insurer located in Indiana, at the same time that the domiciliary liquidator is vested with title in the domicile. The Indiana insurance commissioner may petition for a conservation or liquidation order under section 1 or 2 of this chapter, or for an ancillary receivership under section 4 of this chapter, or after approval by the Marion County circuit court may transfer title to the domiciliary liquidator, as the interests of justice and the equitable distribution of the assets require.
(c) Claimants residing in Indiana may file claims with the liquidator or ancillary receiver, if any, in Indiana or with the domiciliary liquidator, if the domiciliary law permits. The claims must be filed on or before the last date fixed for the filing of claims in the domiciliary liquidation proceedings.
As added by Acts 1979, P.L.255, SEC.1. Amended by P.L.178-2003, SEC.79.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 4. Interstate Relations › 27-9-4-4. Ancillary State Receivers

Sec. 4. (a) If a domiciliary liquidator has been appointed for an insurer not domiciled in Indiana, the commissioner may file a petition with the Marion County circuit court requesting appointment as ancillary receiver in Indiana if:
(1) he finds that there are sufficient assets of the insurer located in Indiana to justify the appointment of an ancillary receiver; and
(2) the protection of creditors or policyholders in Indiana requires it.
(b) The Marion County circuit court may issue an order appointing an ancillary receiver in whatever terms it considers appropriate. The filing or recording of the order with the recorder of deeds in Indiana imparts the same notice as a deed, bill of sale, or other evidence of title duly filed or recorded with that recorder of deeds.
(c) When a domiciliary liquidator has been appointed in a reciprocal state, then the ancillary receiver appointed in Indiana may, whenever necessary, aid and assist the domiciliary liquidator in recovering assets of the insurer located in Indiana. The ancillary receiver shall, as soon as practicable, liquidate from their respective securities those special deposit claims and secured claims which are proved and allowed in the ancillary proceedings in Indiana, and shall pay the necessary expenses of the proceedings. He shall promptly transfer all remaining assets, books, accounts and records to the domiciliary liquidator. Subject to this section, the ancillary receiver and his deputies shall have the same powers and be subject to the same duties with respect to the administration of assets as a liquidator of an insurer domiciled in Indiana.
(d) When a domiciliary liquidator has been appointed in Indiana, ancillary receivers appointed in reciprocal states shall have, as to assets and books, accounts, and other records in their respective states, corresponding rights, duties and powers to those provided in subsection (c) for ancillary receivers appointed in Indiana.
As added by Acts 1979, P.L.255, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 4. Interstate Relations › 27-9-4-5. Summary Proceedings at Request of Officials of Domiciliary States

Sec. 5. The commissioner in his sole discretion may institute proceedings under IC 27-9-2 at the request of the commissioner or other appropriate insurance official of the domiciliary state of any foreign or alien insurer having property located in Indiana.
As added by Acts 1979, P.L.255, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 4. Interstate Relations › 27-9-4-6. Claims by Residents of Other States

Sec. 6. (a) In a liquidation proceeding begun in Indiana against an insurer domiciled in Indiana, claimants residing in foreign countries or in states not reciprocal states must file claims in Indiana, and claimants residing in reciprocal states may file claims either with the ancillary receivers, if any, in their respective states, or with the domiciliary liquidator. Claims must be filed on or before the last date fixed for the filing of claims in the domiciliary liquidation proceeding.
(b) Claims belonging to claimants residing in reciprocal states may be proved either in the liquidation proceeding in Indiana as provided in IC 27-9, or in ancillary proceedings, if any, in the reciprocal states. If notice of the claims and opportunity to appear and be heard is afforded the domiciliary liquidator of Indiana as provided in section 7(b) of this chapter with respect to ancillary proceedings, the final allowance of claims by the courts in ancillary proceedings in reciprocal states shall be conclusive as to amount and as to priority against special deposits or other security located in ancillary states, but shall not be conclusive with respect to priorities against general assets under IC 27-9-3-40.
As added by Acts 1979, P.L.255, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 4. Interstate Relations › 27-9-4-7. Claims by Residents in Proceeding in Other States or in Ancillary Proceedings in Indiana

Sec. 7. (a) In a liquidation proceeding in a reciprocal state against an insurer domiciled in that state, claimants against the insurer who reside within Indiana may file claims either with the ancillary receiver, if any, in Indiana, or with the domiciliary liquidator. Claims must be filed on or before the last dates fixed for the filing of claims in the domiciliary liquidation proceeding.
(b) Claims belonging to claimants residing in Indiana may be proved either in the domiciliary state under the law of that state, or in ancillary proceedings, if any, in Indiana. If a claimant elects to prove his claim in Indiana, he shall file his claim with the liquidator in the manner provided in IC 27-9-3-33 and IC 27-9-3-34. The ancillary receiver shall make his recommendation to the court as under IC 27-9-3-41. He shall also arrange a date for hearing if necessary under IC 27-9-3-37 and shall give notice to the liquidator in the domiciliary state, either by certified mail or by personal service at least forty (40) days prior to the date set for hearing. If the domiciliary liquidator, within thirty (30) days after the giving of such notice, gives notice in writing to the ancillary receiver and to the claimant, either by certified mail or by personal service, of his intention to contest the claim, he may appear or be represented in any proceeding in Indiana involving the adjudication of the claim.
(c) The final allowance of the claim by the courts of Indiana shall be accepted as conclusive as to amount and as to priority against special deposits or other security located in Indiana.
As added by Acts 1979, P.L.255, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 4. Interstate Relations › 27-9-4-8. Attachment, Garnishment, or Levy of Execution

Sec. 8. During the pendency in this or any other state of a liquidation proceeding, whether called by that name or not, no action or proceeding in the nature of an attachment, garnishment, or levy of execution shall be commenced or maintained in Indiana against the delinquent insurer or its assets.
As added by Acts 1979, P.L.255, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 4. Interstate Relations › 27-9-4-9. Proceedings Involving Reciprocal States, Orders of Distribution, and Priority of Claims; Special Deposit Claims; Secured Claims

Sec. 9. (a) In a liquidation proceeding in Indiana involving one (1) or more reciprocal states, the order of distribution of the domiciliary state shall control as to all claims of residents of this and reciprocal states. All claims of residents of reciprocal states shall be given equal priority of payment from general assets regardless of where those assets are located.
(b) The owners of special deposit claims against an insurer for which a liquidator is appointed in this or any other state shall be given priority against the special deposits in accordance with the statutes governing the creation and maintenance of the deposits. If there is a deficiency in any deposit, so that the claims secured by it are not fully discharged from it, the claimants may share in the general assets, but the sharing shall be deferred until general creditors, and also claimants against other special deposits who have received smaller percentages from their respective special deposits, have been paid percentages of their claims equal to the percentage paid from the special deposit.
(c) The owner of a secured claim against an insurer for which a liquidator has been appointed in this or any other state may surrender his security and file his claim as a general creditor, or the claim may be discharged by resort to the security in accordance with IC 27-9-3-39, in which case the deficiency, if any, shall be treated as a claim against the general assets of the insurer on the same basis as claims of unsecured creditors.
As added by Acts 1979, P.L.255, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 9. Supervision; Rehabilitation; Liquidation › Chapter 4. Interstate Relations › 27-9-4-10. Failure by Ancillary Receiver to Transfer Assets

Sec. 10. If an ancillary receiver in another state or foreign country, whether called by that name or not, fails to transfer to the domiciliary liquidator in Indiana any assets within his control other than special deposits, diminished only by the expenses of the ancillary receivership, if any, the claims filed in the ancillary receivership, other than special deposit claims or secured claims, shall be placed in the class of claims under IC 27-9-3-40(7).
As added by Acts 1979, P.L.255, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 10. Indiana Bail Law › Chapter 1. Definitions › 27-10-1-0.3. Validity of Licenses Issued Before September 1, 1985; Renewal

Sec. 0.3. Licenses issued before September 1, 1985, under IC 35-4-5 (before its repeal) remain valid and may be renewed under this article, subject to this article.
As added by P.L.220-2011, SEC.455.
2023 Indiana Code › Title 27. Insurance › Article 10. Indiana Bail Law › Chapter 1. Definitions › 27-10-1-2. "All Lines Fire and Casualty Insurance Producer"

Sec. 2. "All lines fire and casualty insurance producer" means an insurance producer who holds a valid license issued by the department of insurance to engage in the writing and transacting of all of the following lines and kinds of insurance:
(1) Property insurance.
(2) Casualty insurance.
(3) Surety insurance.
(4) Disability insurance.
(5) Inland marine insurance.
As added by P.L.261-1985, SEC.1. Amended by P.L.178-2003, SEC.80.
2023 Indiana Code › Title 27. Insurance › Article 10. Indiana Bail Law › Chapter 1. Definitions › 27-10-1-4. "Bail Agent"

Sec. 4. "Bail agent" means a person who has been:
(1) approved by the commissioner; and
(2) appointed by an insurer by power of attorney;
to execute or countersign bail bonds for the insurer in connection with judicial proceedings for which the person receives a premium.
As added by P.L.261-1985, SEC.1. Amended by P.L.224-1993, SEC.2.
2023 Indiana Code › Title 27. Insurance › Article 10. Indiana Bail Law › Chapter 1. Definitions › 27-10-1-4.3. "Bureau"

Sec. 4.3. "Bureau" refers to the child support bureau established by IC 31-25-3-1.
As added by P.L.23-1996, SEC.25. Amended by P.L.145-2006, SEC.166.
2023 Indiana Code › Title 27. Insurance › Article 10. Indiana Bail Law › Chapter 1. Definitions › 27-10-1-5.5. "Delinquent"

Sec. 5.5. "Delinquent" means at least:
(1) two thousand dollars ($2,000); or
(2) three (3) months;
past due on payment of court ordered child support.
As added by P.L.23-1996, SEC.26.
2023 Indiana Code › Title 27. Insurance › Article 10. Indiana Bail Law › Chapter 1. Definitions › 27-10-1-6. "Disqualifying Offense"

Sec. 6. "Disqualifying offense" means:
(1) a felony; or
(2) a misdemeanor if an element of the offense involves dishonesty, violence, or a deadly weapon.
As added by P.L.261-1985, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 10. Indiana Bail Law › Chapter 1. Definitions › 27-10-1-7. "Insurer"

Sec. 7. "Insurer" means any domestic, foreign, or alien surety company which has qualified generally to transact surety business under the requirements of this title and specifically to transact bail bond business in this state.
As added by P.L.261-1985, SEC.1. Amended by P.L.149-1986, SEC.60.
2023 Indiana Code › Title 27. Insurance › Article 10. Indiana Bail Law › Chapter 1. Definitions › 27-10-1-8. "Premium"

Sec. 8. "Premium" means:
(1) currency issued by the United States of America paid to a bail agent prior to the execution of a bail bond;
(2) a check delivered to a bail agent prior to the execution of the bail bond that must be:
(A) properly payable when delivered; and
(B) deposited in the bail agent's bank account; or
(3) a credit card transaction if the bail agent:
(A) accepts the credit card; and
(B) obtains:
(i) authorization from the credit card issuer for the amount due; and
(ii) an approval number from the credit card issuer for the credit card transaction;
before the execution of the bail bond.
As added by P.L.261-1985, SEC.1. Amended by P.L.224-1993, SEC.3; P.L.348-1995, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 10. Indiana Bail Law › Chapter 1. Definitions › 27-10-1-9. "Recovery Agent"

Sec. 9. "Recovery agent" means a person who is offered or given any compensation by a bail agent or surety in exchange for assisting the bail agent or surety in apprehending or surrendering any defendant or keeping a defendant under necessary surveillance. This does not affect the right of bail agents or sureties to hire counsel or to ask assistance of law enforcement officers.
As added by P.L.261-1985, SEC.1. Amended by P.L.224-1993, SEC.4.
2023 Indiana Code › Title 27. Insurance › Article 10. Indiana Bail Law › Chapter 1. Definitions › 27-10-1-10. "Surety"

Sec. 10. "Surety" means any person who satisfies the qualifications of IC 27-10-2-4 and who agrees to pay the bond in the event the defendant fails to appear in court at the scheduled date and time.
As added by P.L.261-1985, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 10. Indiana Bail Law › Chapter 1. Definitions › 27-10-1-11. "Transfer Fee"

Sec. 11. "Transfer fee" means a service charge made by an insurer, in addition to the premium, when a bond is executed by an agent of the insurer for another agent in a different jurisdiction.
As added by P.L.261-1985, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 10. Indiana Bail Law › Chapter 2. General Provisions › 27-10-2-1. Administration of Article; Rules; Employees

Sec. 1. (a) The commissioner:
(1) shall administer this article, which regulates bail agents, recovery agents, and sureties; and
(2) may adopt rules to enforce this article.
(b) The commissioner may employ and discharge employees, examiners, counsel, and other assistants as necessary and shall prescribe their duties and their compensation.
As added by P.L.261-1985, SEC.1. Amended by P.L.224-1993, SEC.5.
2023 Indiana Code › Title 27. Insurance › Article 10. Indiana Bail Law › Chapter 2. General Provisions › 27-10-2-2. Prima Facie Evidence

Sec. 2. Any written instrument purporting to be a copy of any action, proceeding, or finding of fact by the commissioner, or any record of the commissioner authenticated under the hand of the commissioner by the seal of the commissioner's office shall be accepted by all the courts of this state as prima facie evidence of the contents thereof.
As added by P.L.261-1985, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 10. Indiana Bail Law › Chapter 2. General Provisions › 27-10-2-3. Undertakings; Validity; Defect of Form or Other Irregularity; Expiration

Sec. 3. (a) An undertaking is valid if it states:
(1) the court where the defendant is to appear;
(2) the amount of the bail; and
(3) that it was made before an official legally authorized to take the bond.
(b) A surety remains liable on an undertaking despite:
(1) any lack of the surety's qualifications as required by section 4 of this chapter;
(2) any other agreement that is expressed in the undertaking;
(3) any failure of the defendant to join in the undertaking; or
(4) any other defect of form or record, or any other irregularity, except as to matters covered by subsection (a).
(c) Any undertaking written after August 31, 1985, shall expire thirty-six (36) months after it is posted for the release of a defendant from custody. This section does not apply to cases in which a bond has been declared to be forfeited and the surety and bail agent have been notified as described in section 12 of this chapter.
As added by P.L.261-1985, SEC.1. Amended by P.L.355-1989(ss), SEC.1; P.L.105-2010, SEC.6.
2023 Indiana Code › Title 27. Insurance › Article 10. Indiana Bail Law › Chapter 2. General Provisions › 27-10-2-4. Qualifications of Surety

Sec. 4. Every surety for the release of a person on bail shall be qualified as:
(1) an insurer as defined and meeting the qualifications prescribed in IC 27-1-5-1, and represented by a bail agent as defined in and meeting the qualifications prescribed in this article; or
(2) a person who:
(A) has reached the age of eighteen (18) years;
(B) is a citizen of the United States;
(C) has been a bona fide resident of Indiana for at least one (1) year immediately preceding the execution of the bond;
(D) is related to the person for whom release on bail is sought within the third degree of affinity; and
(E) owns real or tangible personal property in Indiana with a net asset value that is acceptable to the proper authority approving the bond.
As added by P.L.261-1985, SEC.1. Amended by P.L.224-1993, SEC.6.
2023 Indiana Code › Title 27. Insurance › Article 10. Indiana Bail Law › Chapter 2. General Provisions › 27-10-2-4.1. Duty to Regulate a Charitable Bail Organization

Sec. 4.1. The commissioner shall regulate a charitable bail organization (as defined in section 4.5 of this chapter) in accordance with section 4.5 of this chapter.
As added by P.L.147-2022, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 10. Indiana Bail Law › Chapter 2. General Provisions › 27-10-2-4.6. Rulemaking

Sec. 4.6. The commissioner shall adopt:
(1) before July 1, 2022, emergency rules under IC 4-22-2-37.1; and
(2) rules under IC 4-22-2;
to implement section 4.5 of this chapter.
As added by P.L.147-2022, SEC.3.
2023 Indiana Code › Title 27. Insurance › Article 10. Indiana Bail Law › Chapter 2. General Provisions › 27-10-2-5. Surrender of Defendants

Sec. 5. (a) Any time before there has been a breach of the undertaking in any type of bail and cash bond, the surety may surrender a defendant, or the defendant may surrender, to the official to whose custody the defendant was committed at the time bail was taken or to the official into whose custody the defendant would have been given if committed.
(b) A defendant shall be surrendered without the return of premium for the bond if the defendant has been guilty of:
(1) changing address without notifying the defendant's bail agent or surety;
(2) concealing one's self;
(3) leaving the jurisdiction of the court without the permission of the defendant's bail agent or surety or the court; or
(4) violating the defendant's contract with the bail agent or surety in a way that does harm to the bail agent or the surety or violates the defendant's obligation to the court.
As added by P.L.261-1985, SEC.1. Amended by P.L.355-1989(ss), SEC.2; P.L.224-1993, SEC.7.