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

Indiana Statutes

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

Indiana § 27-1-3-26

Title 27INSURANCE

Art. 1DEPARTMENT OF INSURANCE

Ch. 3General Powers and Duties of the Department

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Bluebook

Ind. Code § 27-1-3-26 (2026).

Text

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.