§ 27-2-15-6 — Claims against set aside; use of funds

Indiana § 27-2-15-6

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 2: POWERS AND DUTIES OF INSURERS
• Ch. 15: Available Insurance Proceeds Set Aside

Text

(a) Upon a judgment being rendered under IC 36-7-9-13(c) or IC 36-7-9-13(d), the municipality is entitled to the
available insurance proceeds set aside only:
(1) to the extent of the costs set forth in IC 36-7-9-12; and
(2) for demolition and rehabilitation expenses certified under
section 5(b) of this chapter.
Available insurance proceeds set aside under section 5 of this chapter
may not be used to pay the costs of fire service, police service, or any
other service provided in the normal course of the municipality's
business.
(b) All claims by the municipality against the available insurance
proceeds must be made within one (1) year after the date of the fire or
explosion or within one (1) year after the final outcome of a case or
appeal initiated under IC 36-7-9, whichever is later. Proceeds in the
escrow account that are not claimed in this manner shall be paid to the
insured.

Legislative History

As added by P.L.247-1989, SEC.2. Amended by P.L.238-2013, SEC.9.