Indiana § 27-1-15.8-1 Definitions; application

Indiana Statutes

§ 27-1-15.8-1 — Definitions; application

Indiana § 27-1-15.8-1

Title 27INSURANCE

Art. 1DEPARTMENT OF INSURANCE

Ch. 15.8Surplus Lines Producers

This text of Indiana § 27-1-15.8-1 (Definitions; application) 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 § 27-1-15.8-1 (2026).

Text

(a)Except as provided in this section, the definitions in IC 27-1-15.6-2 apply throughout this chapter.

(b)As used in this chapter, "affiliate" means, with respect to an insured, an entity that controls, is controlled by, or is under common control with the insured.

(c)As used in this chapter, "affiliated group" means a group of affiliates.

(d)As used in this chapter, "control" means:

(1)ownership or power to vote at least twenty-five percent (25%) of any class of voting securities; or

(2)power to determine the election of a majority of the directors or trustees; of an entity.

(e)As used in this chapter, "home state" means the following:

(1)With respect to an insured:

(A)the state in which the insured maintains:

(i)the insured's principal place of business; or

(ii)if the insured

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(a) Except as provided in this section, the
definitions in IC 27-1-15.6-2 apply throughout this chapter.
(b) As used in this chapter, "affiliate" means, with respect to an
insured, an entity that controls, is controlled by, or is under common
control with the insured.
(c) As used in this chapter, "affiliated group" means a group of
affiliates.
(d) As used in this chapter, "control" means:
(1) ownership or power to vote at least twenty-five percent (25%)
of any class of voting securities; or
(2) power to determine the election of a majority of the directors
or trustees;
of an entity.
(e) As used in this chapter, "home state" means the following:
(1) With respect to an insured:
(A) the state in which the insured maintains:
(i) the insured's principal place of business; or
(ii) if the insured is an individual, the insured's principal
residence; or
(B) if one hundred percent (100%) of the insured risk is located
outside the state described in clause (A), the state to which the
greatest percentage of the insured's taxable premium for the
insurance contract is allocated.
(2) With respect to an affiliated group, if more than one (1)
insured from the affiliated group is a named insured on a single
nonadmitted insurance policy or contract, the home state
determined under subdivision (1) of the member of the affiliated
group that has the largest percentage of premium attributed to the
member under the nonadmitted insurance policy or contract.
(f) As used in this chapter, "nonadmitted insurance policy or
contract" means an insurance policy or contract that is issued by an
insurer that is not authorized to transact the business of insurance under
the law of the home state.
(g) As used in this chapter, "principal place of business" means,
with respect to determining the home state of an insured, the state
where the:
(1) insured maintains the insured's headquarters; and
(2) insured's officers direct, control, and coordinate the business
activities of the insured.