§ 27-8-1-8 — Annual statement; examination

Any corporation, association, or society carrying
on the business of life or accident insurance on the assessment plan
shall submit annually, on or before February 28, under oath, to the
insurance commissioner a detailed statement of assets, liabilities,
insurance in force, and number of persons upon whom risks are in force
on the preceding December 31, and answer such interrogatories as the
commissioner, who shall furnish a blank for the purpose, may, under
the provisions of this chapter make in order to ascertain its financial
character and condition, and shall pay to the commissioner, upon filing
such statement, a fee of ten dollars ($10), and the commissioner shall
publish such statement in his annual report. For the purpose of
verifying such statement, the commissioner shall, on petition of a
majority of the officers or of ten (10) members of such association
supported by the affidavit of one (1) or more of the petitioners showing
the necessity therefor, institute an examination of its affairs to ascertain
its true character and condition.
Formerly: Acts 1883, c.136, s.8; Acts 1891, c.189, s.1. As
amended by P.L.252-1985, SEC.271.