§ 27-4-6-3 — Advertising in violation of Unfair Trade Practice Act by unauthorized foreign or alien insurer; notice to insurer and supervisory official of domiciliary state

No unauthorized foreign or alien insurer of the
kind described in section 1 of this chapter shall make, issue, circulate,
or cause to be made, issued, or circulated, to residents of this state any
estimate, illustration, circular, pamphlet, or letter, or cause to be made
in any newspaper, magazine, or other publication or over any radio or
television station, any announcement or statement to such residents
misrepresenting its financial condition or the terms of any contracts
issued or to be issued or the benefits or advantages promised thereby,
or the dividends or share of the surplus to be received thereon in
violation of IC 27-4-1, and whenever the commissioner shall have
reason to believe that any such insurer is engaging in such unlawful
advertising, he shall give notice of such fact by registered mail to such
insurer and to the insurance supervisory official of the domiciliary state
of such insurer. For the purpose of this section, the domiciliary state of
an alien insurer shall be deemed to be the state of entry or the state of
the principal office in the United States.
Formerly: Acts 1963, c.163, s.3. As amended by P.L.252-1985,
SEC.172.