Indiana § 27-1-3-19 Order to correct improper practices or remedy deficiencies; actions to
compel compliance

Indiana Statutes

§ 27-1-3-19 — Order to correct improper practices or remedy deficiencies; actions to compel compliance

Indiana·Title 27 INSURANCE·Art. 1 DEPARTMENT OF INSURANCE·Ch. 3 General Powers and Duties of the Department

(a)Whenever the commissioner determines that any insurance company to which this article is applicable:

(1)is conducting its business contrary to law or in an unsafe or unauthorized manner;

(2)has had its capital or surplus fund impaired or reduced below the amount required by law; or

(3)has failed, neglected, or refused to observe and comply with any law, order, or rule of the department or commissioner; then the commissioner may, by an order in writing addressed to the board of directors, board of trustees, attorney in fact, partners, or owners of or in any such insurance company, to direct the discontinuance of any such illegal, unauthorized, or unsafe practice, the restoration of an impairment to the capital or the surplus fund, or the compliance with any such law, order, or rule o

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(a) Whenever the commissioner determines
that any insurance company to which this article is applicable:
(1) is conducting its business contrary to law or in an unsafe or
unauthorized manner;
(2) has had its capital or surplus fund impaired or reduced below
the amount required by law; or
(3) has failed, neglected, or refused to observe and comply with
any law, order, or rule of the department or commissioner;
then the commissioner may, by an order in writing addressed to the
board of directors, board of trustees, attorney in fact, partners, or
owners of or in any such insurance company, to direct the
discontinuance of any such illegal, unauthorized, or unsafe practice, the
restoration of an impairment to the capital or the surplus fund, or the
compliance with any such law, order, or rule of the department or
commissioner. The order shall be mailed to the last known principal
office of the insurance company by certified or registered mail or
delivered to an officer of the company and shall be considered to be
received by the insurance company three (3) days after mailing or on
the date of delivery.
(b) If the insurance company fails, neglects, or refuses to comply
with the terms of that order within thirty (30) days after its receipt by
the insurance company, or within a shorter period set out in the order
if the commissioner determines that an emergency exists, the
commissioner may, in addition to any other remedy conferred upon the
department or the commissioner by law, bring an action against any
such insurance company, its officers, and agents to compel that
compliance.
(c) The action shall be brought by the commissioner in the Marion
County circuit court. The action shall be commenced and prosecuted
in accordance with the Indiana Rules of Trial Procedure, and relief for
noncompliance of the order includes any remedy appropriate under the
facts, including injunction, preliminary injunction, and temporary
restraining order. In that action, a change of venue from the judge, but
no change of venue from the county, is permitted.
Formerly: Acts 1935, c.162, s.26. As amended by P.L.252-1985,
SEC.12; P.L.31-1988, SEC.10; P.L.190-2023, SEC.11.

Indiana § 27-1-3-19 (Order to correct improper practices or remedy deficiencies; actions to compel compliance) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.