Indiana § 27-5.1-3-3 Company territory expansion; net retention per risk; investments

Indiana Statutes

§ 27-5.1-3-3 — Company territory expansion; net retention per risk; investments

Indiana § 27-5.1-3-3

Title 27INSURANCE

Art. 5.1FARM MUTUAL INSURANCE COMPANIES

Ch. 3Standard Farm Mutual Insurance Companies

This text of Indiana § 27-5.1-3-3 (Company territory expansion; net retention per risk; investments) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 27-5.1-3-3 (2026).

Text

(a)A standard company may not insure property located outside the standard company's territory, as described in the standard company's articles of incorporation, unless the standard company meets the following requirements for expansion:

(1)A standard company with annual direct written premiums that total not less than one hundred thousand dollars ($100,000) may expand the territory in which the standard company insures property to not more than ten (10) counties if the expansion is approved by the affirmative vote of a majority of the standard company's:

(A)board of directors; or

(B)policyholders present and voting at a meeting of the policyholders.

(2)A standard company with annual direct written premiums that total not less than two hundred fifty thousand dollars ($250,000) may exp

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(a) A standard company may not insure
property located outside the standard company's territory, as described
in the standard company's articles of incorporation, unless the standard
company meets the following requirements for expansion:
(1) A standard company with annual direct written premiums that
total not less than one hundred thousand dollars ($100,000) may
expand the territory in which the standard company insures
property to not more than ten (10) counties if the expansion is
approved by the affirmative vote of a majority of the standard
company's:
(A) board of directors; or
(B) policyholders present and voting at a meeting of the
policyholders.
(2) A standard company with annual direct written premiums that
total not less than two hundred fifty thousand dollars ($250,000)
may expand the territory in which the standard company insures
property to more than ten (10) counties if the expansion is
approved by the affirmative vote of a majority of the standard
company's:
(A) board of directors; or
(B) policyholders present and voting at a meeting of the
policyholders.
(b) The net retention per risk of a standard company may not exceed
two-tenths percent (0.2%) of the standard company's insurance in force.
(c) A standard company shall make investments in accordance with
IC 27-1-13-3.