§ 27-1-3.5-0.5 — "Audit committee"

Indiana § 27-1-3.5-0.5

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 3.5: Annual Audited Financial Reports

Text

5. (a) As used in this chapter, "audit
committee" means a body established by the board of directors of a
domestic insurer or group of insurers for the purpose of overseeing:
(1) the accounting and financial reporting processes;
(2) external audits of financial statements; and
(3) the internal audit function;
of a domestic insurer or group of insurers.
(b) For purposes of this chapter, the audit committee of an insurance
holding company system is considered to be the audit committee of a
group of insurers that are members of the insurance holding company
system, at the election of the insurance holding company system.
(c) For purposes of this chapter, if a board of directors does not
establish an audit committee, the entire board of directors constitutes
the audit committee.

Legislative History

As added by P.L.146-2015, SEC.3.