§ 27-1-18-4 — Amended certificate of authority

Indiana § 27-1-18-4

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 18: Additional Provisions Pertaining to Foreign and Alien

Text

(a) Any foreign or alien corporation admitted
to do business in this state may alter or enlarge the character of the
business which it is authorized to transact in this state under its articles
of incorporation or association, and any amendments thereof filed with
the department as provided in section 3 of this chapter, by procuring an
amended certificate of authority from the department in the manner
provided in subsection (b).
(b) Whenever a foreign or alien corporation desires to procure such
amended certificate, it shall present to the department at its office,
accompanied by the fees prescribed by law, an application for an
amended certificate of authority, setting forth the change desired in the
kind or kinds of insurance business under its articles of incorporation
or association which it intends to thereafter carry on in this state; the
application shall be filed in the form prescribed by the department by
the president or a vice president and the secretary or an assistant
secretary of the corporation, and verified by the oaths of the officers
signing the same.
(c) Upon the presentation of such application, accompanied by the
corporation's certificate of authority, the department, if it finds that it
conforms to law and that the foreign or alien company has fulfilled the
requirements set forth in subsection (b) and in section 3 of this chapter,
may endorse its approval upon the application, and, in case of the
approval of such application and when all fees required by law shall
have been paid, shall file one (1) copy of the application in its office,
cancel the certificate of authority presented with the application, and
issue to the corporation a new certificate of authority, which certificate
shall set forth the kind or kinds of business that the corporation is
authorized thereafter to transact in this state, which shall be
accompanied by one (1) copy of the application bearing the
endorsement of the approval of the department.
(d) Upon the issuance of the new certificate of authority by the
department, the corporation named in the certificate of authority shall
have authority thereafter to transact in this state the kind or kinds of
insurance business set forth in such certificate, subject to the terms and
conditions prescribed in this article.
Formerly: Acts 1935, c.162, s.237. As amended by
P.L.252-1985, SEC.79; P.L.11-2011, SEC.15; P.L.136-2018,
SEC.163.