Indiana § 27-9-3.1-11 "Walkaway clause"

Indiana Statutes

§ 27-9-3.1-11 — "Walkaway clause"

Indiana § 27-9-3.1-11

Title 27INSURANCE

Art. 9SUPERVISION; REHABILITATION;

Ch. 3.1Treatment of Certain Agreements

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Bluebook

Ind. Code § 27-9-3.1-11 (2026).

Text

As used in this chapter, "walkaway clause" means a provision in a netting agreement or qualified financial contract that, after calculation of the value of a party's position or an amount due to or from a party under the netting agreement or qualified financial contract upon termination, liquidation, or acceleration of the netting agreement or qualified financial contract, either:

(1)does not create a payment obligation of a party; or

(2)voids any part of a payment obligation of a party; solely because of the party's status as a nondefaulting party.

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As used in this chapter, "walkaway clause"
means a provision in a netting agreement or qualified financial contract
that, after calculation of the value of a party's position or an amount due
to or from a party under the netting agreement or qualified financial
contract upon termination, liquidation, or acceleration of the netting
agreement or qualified financial contract, either:
(1) does not create a payment obligation of a party; or
(2) voids any part of a payment obligation of a party;
solely because of the party's status as a nondefaulting party.