Indiana § 27-5.1-2-36 Borrowing funds; assessment

Indiana Statutes

§ 27-5.1-2-36 — Borrowing funds; assessment

Indiana § 27-5.1-2-36

Title 27INSURANCE

Art. 5.1FARM MUTUAL INSURANCE COMPANIES

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Bluebook

Ind. Code § 27-5.1-2-36 (2026).

Text

(a)A farm mutual insurance company may borrow money for the payment of accrued losses and expenses.

(b)A farm mutual insurance company that borrows money under subsection (a) shall assess policyholders the full amount necessary to fully repay the loan in the assessment immediately following the date the money is borrowed. Unless the commissioner authorizes a longer period, the assessment must be levied not more than twelve (12) months after the losses or expenses paid by the farm mutual insurance company through the loan are incurred.

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(a) A farm mutual insurance company may
borrow money for the payment of accrued losses and expenses.
(b) A farm mutual insurance company that borrows money under
subsection (a) shall assess policyholders the full amount necessary to
fully repay the loan in the assessment immediately following the date
the money is borrowed. Unless the commissioner authorizes a longer
period, the assessment must be levied not more than twelve (12)
months after the losses or expenses paid by the farm mutual insurance
company through the loan are incurred.