Indiana § 27-9-3-20 Liens dissolved by furnishing bond; effect of voidable lien

Indiana Statutes

§ 27-9-3-20 — Liens dissolved by furnishing bond; effect of voidable lien

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

If any lien that is voidable under section 16(b)
of this chapter has been dissolved by the furnishing of a bond or other
obligation, the surety on which has been indemnified directly or
indirectly by the transfer of or the creation of a lien upon any property
of an insurer before the filing of a petition under IC 27-9 that results in
a liquidation order, the indemnifying transfer or lien shall also be
considered voidable.
As added by Acts 1979, P.L.255, SEC.1.

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If any lien that is voidable under section 16(b)
of this chapter has been dissolved by the furnishing of a bond or other
obligation, the surety on which has been indemnified directly or
indirectly by the transfer of or the creation of a lien upon any property
of an insurer before the filing of a petition under IC 27-9 that results in
a liquidation order, the indemnifying transfer or lien shall also be
considered voidable.
As added by Acts 1979, P.L.255, SEC.1.

Indiana § 27-9-3-20 (Liens dissolved by furnishing bond; effect of voidable lien) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.