§ 27-1-13-15 — Property and casualty insurance blanket policies for planned unit development owners association or corporation

Indiana § 27-1-13-15

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 13: Casualty, Fire, and Marine Insurance Company Powers

Text

(a) As used in this section, "planned unit
development" has the meaning set forth in IC 36-7-1-14.5.
(b) As used in this section, "property and casualty insurance" means
one (1) or more of the types of insurance described in IC 27-1-5-1,
Class 2 and Class 3.
(c) An insurance company may issue a blanket policy of property
and casualty insurance to an association or a nonprofit corporation
composed of the owners of the property within a planned unit
development for the purpose of insuring:
(1) the association or nonprofit corporation;
(2) the owners of the property within the planned unit
development;
(3) the executive body of the association or nonprofit corporation;
(4) the managing agent of the association or nonprofit
corporation, if any;
(5) all persons who act as agents or employees of:
(A) the association or nonprofit corporation;
(B) the owners of the property;
(C) the executive body; or
(D) the managing agent;
with respect to the planned unit development; and
(6) all other persons entitled to occupy any unit or other portion
of the planned unit development, including property owners;
against losses under this subsection, including loss or damage to
property within the planned unit development and loss of use or
occupancy.
(d) An association or a nonprofit corporation composed of the
owners of all of the property within a planned unit development is
authorized to purchase an insurance policy described in subsection (c).

Legislative History

As added by P.L.116-1994, SEC.29. Amended by P.L.1-2010, SEC.110.