Indiana § 27-1-3-26 Order to limit ordinary shareholder dividends

Indiana Statutes

§ 27-1-3-26 — Order to limit ordinary shareholder dividends

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

The department shall establish and follow a practice under which the department issues an order to a domestic insurer to limit the payment of ordinary shareholder dividends by the insurer if the department determines that the surplus of the insurer as regards policyholders:

(1)is not reasonable in relation to the outstanding liabilities of the insurer; and

(2)is not adequate to the financial needs of the insurer.

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The department shall establish and follow a
practice under which the department issues an order to a domestic
insurer to limit the payment of ordinary shareholder dividends by the
insurer if the department determines that the surplus of the insurer as
regards policyholders:
(1) is not reasonable in relation to the outstanding liabilities of the
insurer; and
(2) is not adequate to the financial needs of the insurer.

Indiana § 27-1-3-26 (Order to limit ordinary shareholder dividends) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.