Indiana § 27-6-10.1-4 "Qualified U.S. financial institution"

Indiana Statutes

§ 27-6-10.1-4 — "Qualified U.S. financial institution"

Indiana § 27-6-10.1-4

Title 27INSURANCE

Art. 6REINSURANCE; INTERINSURANCE;

Ch. 10.1Credit for Reinsurance

This text of Indiana § 27-6-10.1-4 ("Qualified U.S. financial institution") 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 § 27-6-10.1-4 (2026).

Text

Qualified U.S. Financial Institutions A. For purposes of Section 3C of this chapter, a "qualified U.S. financial institution" means an institution that:

(1)is organized or (in the case of a U.S. office of a foreign banking organization) licensed, under the laws of the United States or any state thereof;

(2)is regulated, supervised, and examined by U.S. federal or state authorities having regulatory authority over banks and trust companies; and

(3)has been determined by either the commissioner or the Securities Valuation Office of the NAIC to meet such standards of financial condition and standing as are considered necessary and appropriate to regulate the quality of financial institutions whose letters of credit will be acceptable to the commissioner. B. A "qualified U.S. financial inst

Free access — add to your briefcase to read the full text and ask questions with AI

Qualified U.S. Financial Institutions
A. For purposes of Section 3C of this chapter, a "qualified U.S.
financial institution" means an institution that:
(1) is organized or (in the case of a U.S. office of a foreign
banking organization) licensed, under the laws of the United
States or any state thereof;
(2) is regulated, supervised, and examined by U.S. federal or state
authorities having regulatory authority over banks and trust
companies; and
(3) has been determined by either the commissioner or the
Securities Valuation Office of the NAIC to meet such standards
of financial condition and standing as are considered necessary
and appropriate to regulate the quality of financial institutions
whose letters of credit will be acceptable to the commissioner.
B. A "qualified U.S. financial institution" means, for purposes of
those provisions of this chapter specifying those institutions that
are eligible to act as a fiduciary of a trust, an institution that:
(1) is organized, or, in the case of a U.S. branch or agency office
of a foreign banking organization, licensed, under the laws of the
United States or any state thereof and has been granted authority
to operate with fiduciary powers; and
(2) is regulated, supervised and examined by federal or state
authorities having regulatory authority over banks and trust
companies.