§ 27-1-12.8-39 — Exemptions of certain products from requirements

Indiana § 27-1-12.8-39

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 12.8: Standard Valuation Law

Text

(a) The commissioner may exempt specific
product forms or product lines of a domestic company that is licensed
and doing business only in Indiana from the requirements of section 34
of this chapter if:
(1) the commissioner has issued an exemption in writing to the
company and has not subsequently revoked the exemption in
writing; and
(2) the company computes reserves using assumptions and
methods used before the operative date of the valuation manual
in addition to requirements established by the commissioner in
rules adopted under IC 4-22-2.
(b) With respect to a company granted an exemption under this
section, sections 21 through 33 of this chapter apply. With respect to
a company applying the exemption under this section, a reference to
section 34 of this chapter in sections 21 through 33 of this chapter does
not apply.

Legislative History

As added by P.L.276-2013, SEC.10.