Indiana § 13-23-8-6 Payment of claims if ELTF balance is low

Indiana Statutes

§ 13-23-8-6 — Payment of claims if ELTF balance is low

Indiana·Art. 23 UNDERGROUND STORAGE TANKS·Ch. 8 Use of Money in Excess Liability Fund

(a)If the balance in the ELTF drops below twenty-five million dollars ($25,000,000), the administrator shall pay claims according to the priority payment system established by rules adopted by the financial assurance board under IC 13-23-11-7(a)(1)(D).

(b)If the balance in the ELTF is insufficient to pay:

(1)ELTF claims; and

(2)necessary personnel and administrative expenses associated with the ELTF; the administrator of the ELTF shall cease paying claims, and claimants may not use the ELTF to satisfy any financial responsibility requirements. [Pre-1996 Recodification Citation: 13-7-20-33(f).]

Free access — add to your briefcase to read the full text and ask questions with AI

(a) If the balance in the ELTF drops below
twenty-five million dollars ($25,000,000), the administrator shall pay
claims according to the priority payment system established by rules
adopted by the financial assurance board under IC 13-23-11-7(a)(1)(D).
(b) If the balance in the ELTF is insufficient to pay:
(1) ELTF claims; and
(2) necessary personnel and administrative expenses associated
with the ELTF;
the administrator of the ELTF shall cease paying claims, and claimants
may not use the ELTF to satisfy any financial responsibility
requirements.
[Pre-1996 Recodification Citation: 13-7-20-33(f).]

Indiana § 13-23-8-6 (Payment of claims if ELTF balance is low) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.