§ 27-8-3-12 — Report of affairs and operations; suspension for failure to file

Indiana § 27-8-3-12

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 8: LIFE, ACCIDENT, AND HEALTH
• Ch. 3: Mutual Life and Accident─Formation

Text

(a) Every such accident insurance
corporation, association, or society doing business under this chapter
shall, on or before March 1 in each year, make and file with the
insurance commissioner a report of its affairs and operations during the
year ending on December 31 immediately preceding, which report shall
be in lieu of all other reports required by this title and shall be verified
by such officers of the corporation, association or society, as the
commissioner may require, and shall contain answers to the following
questions:
(1) First, what number of certificates or policies were issued
during the year or applicants admitted?
(2) Second, what was the amount of death indemnity affected
thereby?
(3) Third, what number of death losses were incurred?
(4) Fourth, what number of death losses were paid and amount
thereof?
(5) Fifth, what were the total number of indemnity claims paid
and amount thereof?
(6) Sixth, what were the number of death and number of
indemnity claims unpaid?
(7) Seventh, does the corporation, association, or society charge
annual dues or membership fee? If so, how much?
(8) Eighth, what was the total amount received and whether from
assessment, annual dues, membership fees, or other sources, and
the disposition thereof?
(9) Ninth, does corporation, association, or society use moneys
received for payment of claims to pay expenses, in whole or in
part? And, if so, state the amount used.
(10) Tenth, what is the amount of the emergency fund and how
invested?
(11) Eleventh, if organized under the laws of this state, state such
fact and the date of organization.
(12) Twelfth, what were the number of policies in force and death
insurance in force at the beginning of the year, and such other
information as may be required by the superintendent of
insurance?
(b) Any corporation, association, or society refusing or neglecting
to make such report or to make payment of any one of the fees required
by this chapter shall, upon the order of the insurance commissioner,
cease to do business in this state until such report and payment shall be
made and until the costs of such action be paid.
Formerly: Acts 1897, c.195, s.12. As amended by P.L.252-1985,
SEC.284.