Indiana § 27-9-3-35 Claims subject to contingencies

Indiana Statutes

§ 27-9-3-35 — Claims subject to contingencies

Indiana § 27-9-3-35

Title 27INSURANCE

Art. 9SUPERVISION; REHABILITATION;

Ch. 3Formal Proceedings

This text of Indiana § 27-9-3-35 (Claims subject to contingencies) 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 § 27-9-3-35 (2026).

Text

(a)The claim of a third party that is contingent only on his first obtaining a judgment against the insured must be considered and allowed as if there were no contingency.

(b)If a claim is filed in accordance with section 33 of this chapter, it may be allowed even if contingent. A contingent claim may be allowed and may participate in all distributions declared after it is filed to the extent that it does not prejudice the orderly administration of the liquidation.

(c)Claims that are due except for the passage of time must be treated as absolute claims are treated, except that the claims may be discounted at the legal rate of interest.

(d)Claims made under employment contracts by directors or principal officers (or persons performing similar functions or having similar powers) are limi

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(a) The claim of a third party that is
contingent only on his first obtaining a judgment against the insured
must be considered and allowed as if there were no contingency.
(b) If a claim is filed in accordance with section 33 of this chapter,
it may be allowed even if contingent. A contingent claim may be
allowed and may participate in all distributions declared after it is filed
to the extent that it does not prejudice the orderly administration of the
liquidation.
(c) Claims that are due except for the passage of time must be
treated as absolute claims are treated, except that the claims may be
discounted at the legal rate of interest.
(d) Claims made under employment contracts by directors or
principal officers (or persons performing similar functions or having
similar powers) are limited to payment for services provided before the
issuance of any order of rehabilitation or liquidation under sections 2
or 7 of this chapter.
As added by Acts 1979, P.L.255, SEC.1.