Indiana § 27-1-20-9 Substitution of securities on deposit; withdrawal of securities in excess
of requirements

Indiana Statutes

§ 27-1-20-9 — Substitution of securities on deposit; withdrawal of securities in excess of requirements

Indiana·Title 27 INSURANCE·Art. 1 DEPARTMENT OF INSURANCE·Ch. 20 Additional Provisions Pertaining to All Insurance

Companies shall have the right at any time to
change their securities on deposit, by substituting for those withdrawn
a like amount in other securities of the character provided for in this
article, and whenever the net cash value of policies outstanding and in
force against any company is less than the amount of securities then on
deposit with the department, said company shall have the right to
withdraw such excess, but at least twenty-five thousand dollars
($25,000) shall remain on deposit.
Formerly: Acts 1935, c.162, s.256. As amended by
P.L.252-1985, SEC.90.

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Companies shall have the right at any time to
change their securities on deposit, by substituting for those withdrawn
a like amount in other securities of the character provided for in this
article, and whenever the net cash value of policies outstanding and in
force against any company is less than the amount of securities then on
deposit with the department, said company shall have the right to
withdraw such excess, but at least twenty-five thousand dollars
($25,000) shall remain on deposit.
Formerly: Acts 1935, c.162, s.256. As amended by
P.L.252-1985, SEC.90.

Indiana § 27-1-20-9 (Substitution of securities on deposit; withdrawal of securities in excess of requirements) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.