§ 27-8-1-13 — Qualification of foreign corporation

Any corporation, association, or society,
organized under the laws of any other state or government to insure
lives on the assessment plan, or any corporation carrying on the
business of life or accident insurance on the assessment plan, shall be
licensed by the state comptroller, upon the payment to the state
comptroller of a fee of twenty-five dollars ($25), to do business in this
state. However, the corporation or association shall first deposit with
the state comptroller a certified copy of its charter or articles of
incorporation, a copy of its statement of business for the preceding
year, with the names and residence of its officers, sworn to by the
president and secretary, or like officers, showing a detailed account of
expenses and income, the amount of insurance in force, its assets and
liabilities in detail, and setting forth that it has the ability to pay its
policies or certificates to the full limit named in the policies or
certificates; a certificate from the insurance commissioner or from a
judge or clerk of a court of record of its home state, certifying that
corporations or associations insuring life in the assessment plan, and
paying policies in full, or providing accident indemnities, and chartered
under the laws of this state are legally entitled to do business in its
home state; a copy of its policy or certificate of membership,
application and by-laws, which must show that death losses are, in the
main, provided for by assessment upon the surviving members; and it
shall legally designate an individual resident of Indiana, a corporate
resident of Indiana, or an authorized Indiana insurer as its agent or
attorney in fact, residing in this state, upon whom service of process for
said company or association may be made, and the agent or attorney in
fact shall immediately notify any corporation or association thus
served.
Formerly: Acts 1883, c.136, s.13. As amended by P.L.268-1999,
SEC.18; P.L.136-2018, SEC.189; P.L.9-2024, SEC.486.