Indiana Statutes
§ 27-15-11-3 — Operation of closed block; nonreversion of assets
Indiana § 27-15-11-3
JurisdictionIndiana
Title 27INSURANCE
Art. 15DEMUTUALIZATION OF MUTUAL INSURANCE
Ch. 11Use of a Closed Block
This text of Indiana § 27-15-11-3 (Operation of closed block; nonreversion of assets) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Ind. Code § 27-15-11-3 (2026).
Text
The closed block shall be operated for the
exclusive benefit of policies and contracts included in it. No costs or
expenses incurred in connection with the conversion shall be charged
to the closed block. Subject to termination of the closed block under
section 7 of this chapter, none of the assets allocated to the closed
block or the revenue derived from those assets may revert to the benefit
of the stockholders of the former mutual or any parent company.
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Legislative History
As added by P.L.94-1999, SEC.3.
Nearby Sections
15
§ 27-1-1-1
Creation; functions§ 27-1-1-2
Insurance commissioner§ 27-1-1-3
Personnel§ 27-1-1-4
Repealed§ 27-1-1-5
Repealed§ 27-1-1.5-10
"Annual Statement Blank"§ 27-1-1.5-11
"Annual Statement Instructions"§ 27-1-1.5-12
"Current Dental Terminology"; "CDT"§ 27-1-1.5-13
"Current Procedural Terminology"; "CPT"§ 27-1-1.5-15
"Financial Analysis Handbook"§ 27-1-1.5-16
"Financial Condition Examiner's Handbook"§ 27-1-1.5-18
"Healthcare Common Procedure Coding System"; "HCPCS"Cite This Page — Counsel Stack
Bluebook (online)
Indiana § 27-15-11-3, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/27-15-11-3.