Indiana § 27-5.1-2-42 Exemption from regulation

Indiana Statutes

§ 27-5.1-2-42 — Exemption from regulation

Indiana § 27-5.1-2-42

Title 27INSURANCE

Art. 5.1FARM MUTUAL INSURANCE COMPANIES

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Bluebook

Ind. Code § 27-5.1-2-42 (2026).

Text

A company or association organized before January 1, 1870, that provides the kind of insurance described in this article and has not made an election under IC 27-5-1-14 (before its repeal) is not subject to this article unless the company or association elects to conduct the company's or association's business under this article by a resolution:

(1)adopted by the company's or association's board of directors or policyholders;

(2)filed with the commissioner; and

(3)approved by the commissioner.

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A company or association organized before
January 1, 1870, that provides the kind of insurance described in this
article and has not made an election under IC 27-5-1-14 (before its
repeal) is not subject to this article unless the company or association
elects to conduct the company's or association's business under this
article by a resolution:
(1) adopted by the company's or association's board of directors
or policyholders;
(2) filed with the commissioner; and
(3) approved by the commissioner.