Indiana § 27-7-10-22 Financial impairment of foreign risk retention group; violations of
chapter; compliance requirements

Indiana Statutes

§ 27-7-10-22 — Financial impairment of foreign risk retention group; violations of chapter; compliance requirements

Indiana·Title 27 INSURANCE·Art. 7 SPECIAL TYPES OF INSURANCE·Ch. 10 Risk Retention Groups

(a)A risk retention group that is not chartered in Indiana and that is doing business in Indiana shall comply with a lawful order issued in a voluntary dissolution proceeding or in a delinquency proceeding commenced by a state commissioner if there has been a finding of financial impairment after an examination under section 17 of this chapter.

(b)A risk retention group that violates any provision of this chapter is subject to fines and penalties, including revocation of its right to do business in Indiana, that are applicable to licensed insurers generally.

(c)In addition to complying with the other requirements of sections 14 through 22 of this chapter, a risk retention group operating in Indiana before April 1, 1988, shall, before May 1, 1988, comply with section 14(a) of this chapte

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(a) A risk retention group that is not
chartered in Indiana and that is doing business in Indiana shall comply
with a lawful order issued in a voluntary dissolution proceeding or in
a delinquency proceeding commenced by a state commissioner if there
has been a finding of financial impairment after an examination under
section 17 of this chapter.
(b) A risk retention group that violates any provision of this chapter
is subject to fines and penalties, including revocation of its right to do
business in Indiana, that are applicable to licensed insurers generally.
(c) In addition to complying with the other requirements of sections
14 through 22 of this chapter, a risk retention group operating in
Indiana before April 1, 1988, shall, before May 1, 1988, comply with
section 14(a) of this chapter.

Indiana § 27-7-10-22 (Financial impairment of foreign risk retention group; violations of chapter; compliance requirements) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.