§ 27-5.1-2-19 — Application for coverage; policyholder status

Indiana § 27-5.1-2-19

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 5.1: FARM MUTUAL INSURANCE COMPANIES

Text

(a) A person, including a person described
in subsection (b), that has a risk that is insurable under this article in a
territory in which a farm mutual insurance company operates may
apply for insurance coverage with the farm mutual insurance company.
If the farm mutual insurance company accepts the person as a
policyholder, the person becomes a policyholder of the farm mutual
insurance company and is entitled to all the rights and privileges of a
policyholder.
(b) Any of the following that own property within the territory of a
farm mutual insurance company may apply for insurance, enter into an
agreement for an insurance policy, and hold an insurance policy issued
by a farm mutual insurance company:
(1) A corporation.
(2) An estate.
(3) An association.
(c) An officer, a trustee, a board member, or a legal representative
of an entity described in subsection (b) may be recognized as acting for
or on behalf of the entity for the purpose of membership.

Legislative History

As added by P.L.129-2003, SEC.8.