§ 27-1-38-5 — "Person that sells, solicits, advertises, or offers insurance on behalf of a depository institution" defined

Indiana § 27-1-38-5

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 38: Regulation of Depository Institutions

Text

As used in this chapter, "person that sells,
solicits, advertises, or offers insurance on behalf of a depository
institution" means a person to which one (1) of the following applies:
(1) The person represents to a customer that the sale, solicitation,
advertisement, or offer of insurance is by or on behalf of the
depository institution.
(2) The depository institution:
(A) refers a customer to the person; and
(B) has a contractual arrangement with the person to receive
commissions or fees on sales of insurance that result from
referrals to the person.
(3) Documents that provide evidence of the sale, solicitation,
advertisement, or offer of insurance identify or refer to the
depository institution.

Legislative History

As added by P.L.130-2002, SEC.2.