Indiana § 27-8-19.8-24.2 Payment of proceeds of settlement to trust or escrow account; transfer
of proceeds of settlement to viator

Indiana Statutes

§ 27-8-19.8-24.2 — Payment of proceeds of settlement to trust or escrow account; transfer of proceeds of settlement to viator

Indiana § 27-8-19.8-24.2

Title 27INSURANCE

Art. 8LIFE, ACCIDENT, AND HEALTH

Ch. 19.8Viatical Settlements

This text of Indiana § 27-8-19.8-24.2 (Payment of proceeds of settlement to trust or escrow account; transfer of proceeds of settlement to viator) 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 § 27-8-19.8-24.2 (2026).

Text

2.

(a)Immediately upon a viatical settlement provider's receipt of a signed viatical settlement contract, the viatical settlement provider shall pay the proceeds of the viatical settlement to a trust or escrow account in a state or federally chartered financial institution whose deposits are insured by the Federal Deposit Insurance Corporation. The account shall be managed by a trustee or escrow agent independent of the parties to the contract.

(b)Within two (2) business days after the viatical settlement provider's receipt of the insurer's or group administrator's acknowledgment that ownership of the policy or interest in the certificate has been transferred and the beneficiary has been designated according to the viatical settlement contract, the trustee or escrow agent shall transfer

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2. (a) Immediately upon a viatical
settlement provider's receipt of a signed viatical settlement contract, the
viatical settlement provider shall pay the proceeds of the viatical
settlement to a trust or escrow account in a state or federally chartered
financial institution whose deposits are insured by the Federal Deposit
Insurance Corporation. The account shall be managed by a trustee or
escrow agent independent of the parties to the contract.
(b) Within two (2) business days after the viatical settlement
provider's receipt of the insurer's or group administrator's
acknowledgment that ownership of the policy or interest in the
certificate has been transferred and the beneficiary has been designated
according to the viatical settlement contract, the trustee or escrow agent
shall transfer the proceeds to the viator.