Indiana § 27-1-12.1-8 Certificate of authority; conditions; production and disclosures to
commissioner

Indiana Statutes

§ 27-1-12.1-8 — Certificate of authority; conditions; production and disclosures to commissioner

Indiana § 27-1-12.1-8

Title 27INSURANCE

Art. 1DEPARTMENT OF INSURANCE

Ch. 12.1Limited Purpose Subsidiary Life Insurance

This text of Indiana § 27-1-12.1-8 (Certificate of authority; conditions; production and disclosures to commissioner) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 27-1-12.1-8 (2026).

Text

(a)The commissioner may issue a certificate of authority to a limited purpose subsidiary upon a finding by the commissioner of all of the following:

(1)That the proposed plan of operation provides for a viable operation of the limited purpose subsidiary.

(2)That the terms of all proposed reinsurance contracts and related transactions of the limited purpose subsidiary comply with this chapter and any other applicable insurance laws.

(3)That the proposed plan of operation is not hazardous to any ceding insurer.

(b)The commissioner may, in conjunction with the issuance of a certificate of authority to a limited purpose subsidiary, issue an order containing any terms or conditions applying to the limited purpose subsidiary's authority to engage in the business of reinsurance, including te

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(a) The commissioner may issue a certificate
of authority to a limited purpose subsidiary upon a finding by the
commissioner of all of the following:
(1) That the proposed plan of operation provides for a viable
operation of the limited purpose subsidiary.
(2) That the terms of all proposed reinsurance contracts and
related transactions of the limited purpose subsidiary comply with
this chapter and any other applicable insurance laws.
(3) That the proposed plan of operation is not hazardous to any
ceding insurer.
(b) The commissioner may, in conjunction with the issuance of a
certificate of authority to a limited purpose subsidiary, issue an order
containing any terms or conditions applying to the limited purpose
subsidiary's authority to engage in the business of reinsurance,
including terms or conditions concerning the organization, licensing,
or operation of the limited purpose subsidiary, consistent with this
chapter and determined necessary by the commissioner.
(c) A limited purpose subsidiary shall produce or disclose its plan
of operation, amendments, and records, books, documents, reports, and
other information that the commissioner requires the limited purpose
subsidiary to produce or disclose under:
(1) this chapter;
(2) rules adopted under section 15 of this chapter; or
(3) an order under IC 27-1-3.1.
(d) The commissioner has the powers enumerated in IC 27-1-3.1
with respect to a limited purpose subsidiary.