Indiana § 27-7-1-11 Revocation of certificate of authority; grounds

Indiana Statutes

§ 27-7-1-11 — Revocation of certificate of authority; grounds

Indiana·Title 27 INSURANCE·Art. 7 SPECIAL TYPES OF INSURANCE·Ch. 1 Lloyds Insurance

The certificate of authority of any such
Lloyds, whether domestic or foreign, shall be revoked by the insurance
commissioner if at any time it appears that any underwriters are issuing
policies of insurance within the state under apparent authority of such
certificate without filing such declaration and agreement as aforesaid,
or if such Lloyds does not maintain at all times the funds specified in
this chapter, or has violated its agreement or the law, or is found to be
in such a condition that the further transaction of business by it will be
hazardous to the policyholders, its creditors, or the public.
Formerly: Acts 1919, c.177, s.11. As amended by P.L.252-1985,
SEC.226.

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The certificate of authority of any such
Lloyds, whether domestic or foreign, shall be revoked by the insurance
commissioner if at any time it appears that any underwriters are issuing
policies of insurance within the state under apparent authority of such
certificate without filing such declaration and agreement as aforesaid,
or if such Lloyds does not maintain at all times the funds specified in
this chapter, or has violated its agreement or the law, or is found to be
in such a condition that the further transaction of business by it will be
hazardous to the policyholders, its creditors, or the public.
Formerly: Acts 1919, c.177, s.11. As amended by P.L.252-1985,
SEC.226.

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