Indiana § 27-1-12.7-10 Regulation; funding agreement not a covered policy; claim for
payments; assets in segregated asset account

Indiana Statutes

§ 27-1-12.7-10 — Regulation; funding agreement not a covered policy; claim for payments; assets in segregated asset account

Indiana § 27-1-12.7-10

Title 27INSURANCE

Art. 1DEPARTMENT OF INSURANCE

Ch. 12.7Funding Agreements

This text of Indiana § 27-1-12.7-10 (Regulation; funding agreement not a covered policy; claim for payments; assets in segregated asset account) 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 § 27-1-12.7-10 (2026).

Text

Notwithstanding any other provision of law:

(1)the commissioner has the sole authority to regulate the issuance and sale of funding agreements;

(2)a funding agreement is not considered a covered policy under IC 27-8-8-2.3(d);

(3)a claim for payments under a funding agreement must be treated as a loss claim described in Class 2 of IC 27-9-3-40; and

(4)assets supporting a funding agreement in a segregated asset account under section 8 of this chapter are subject to IC 27-9-3-40.5 and Class 1(c) of IC 27-1-5-1.

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Notwithstanding any other provision of
law:
(1) the commissioner has the sole authority to regulate the
issuance and sale of funding agreements;
(2) a funding agreement is not considered a covered policy under
IC 27-8-8-2.3(d);
(3) a claim for payments under a funding agreement must be
treated as a loss claim described in Class 2 of IC 27-9-3-40; and
(4) assets supporting a funding agreement in a segregated asset
account under section 8 of this chapter are subject to IC 27-9-3-40.5 and Class 1(c) of IC 27-1-5-1.