Indiana § 27-9-3-10 Notice of liquidation by liquidator

Indiana Statutes

§ 27-9-3-10 — Notice of liquidation by liquidator

Indiana·Title 27 INSURANCE·Art. 9 SUPERVISION; REHABILITATION;·Ch. 3 Formal Proceedings

(a)Unless the Marion County circuit court otherwise directs, the liquidator shall give notice of the liquidation order as soon as possible by:

(1)first-class mail and either by telegram or telephone to the insurance commissioner of each jurisdiction in which the insurer is doing business;

(2)first-class mail to any guaranty association or foreign guaranty association that is or may become obligated as a result of the liquidation;

(3)first-class mail to all insurance producers of the insurer;

(4)first-class mail to all persons known or reasonably expected to have claims against the insurer, including all policyholders, at their last known address as indicated by the records of the insurer;

(5)first-class mail to the secretary of state's office; and

(6)publication in a newspaper of ge

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Unless the Marion County circuit court
otherwise directs, the liquidator shall give notice of the liquidation
order as soon as possible by:
(1) first-class mail and either by telegram or telephone to the
insurance commissioner of each jurisdiction in which the insurer
is doing business;
(2) first-class mail to any guaranty association or foreign guaranty
association that is or may become obligated as a result of the
liquidation;
(3) first-class mail to all insurance producers of the insurer;
(4) first-class mail to all persons known or reasonably expected to
have claims against the insurer, including all policyholders, at
their last known address as indicated by the records of the insurer;
(5) first-class mail to the secretary of state's office; and
(6) publication in a newspaper of general circulation in the county
in which the insurer has its principal place of business and in all
other locations the liquidator considers appropriate.
(b) Notice to potential claimants under subsection (a) must require
claimants to file with the liquidator their claims, together with proper
proof of those claims under section 34 of this chapter, before a date the
liquidator specifies in the notice. The liquidator need not require
persons claiming cash surrender values or other investment values in
life insurance and annuities to file a claim. All claimants must keep the
liquidator informed of any changes of address.
(c) If notice is given in accordance with this section, the distribution
of assets of the insurer under this chapter shall be conclusive with
respect to all claimants, whether or not they received notice.
As added by Acts 1979, P.L.255, SEC.1. Amended by
P.L.178-2003, SEC.76.