Indiana § 27-9-3.1-12 Rights

Indiana Statutes

§ 27-9-3.1-12 — Rights

Indiana § 27-9-3.1-12

Title 27INSURANCE

Art. 9SUPERVISION; REHABILITATION;

Ch. 3.1Treatment of Certain Agreements

This text of Indiana § 27-9-3.1-12 (Rights) 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 § 27-9-3.1-12 (2026).

Text

Notwithstanding any other provision of this title to the contrary, a person may exercise any of the following:

(1)A contractual right to cause the termination, liquidation, acceleration, or close-out of obligations in connection with a netting agreement or qualified financial contract with an insurer due to:

(A)the insolvency, financial condition, or default of the insurer if the right is enforceable under applicable law other than this title; or

(B)the commencement of a formal delinquency proceeding under IC 27-9-3.

(2)A right under:

(A)a pledge, security, collateral, reimbursement, guarantee agreement, or similar security agreement; or

(B)an arrangement or credit enhancement relating to at least one (1) netting agreement or qualified financial contract.

(3)A right to set off or ne

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Notwithstanding any other provision of this
title to the contrary, a person may exercise any of the following:
(1) A contractual right to cause the termination, liquidation,
acceleration, or close-out of obligations in connection with a
netting agreement or qualified financial contract with an insurer
due to:
(A) the insolvency, financial condition, or default of the insurer
if the right is enforceable under applicable law other than this
title; or
(B) the commencement of a formal delinquency proceeding
under IC 27-9-3.
(2) A right under:
(A) a pledge, security, collateral, reimbursement, guarantee
agreement, or similar security agreement; or
(B) an arrangement or credit enhancement relating to at least
one (1) netting agreement or qualified financial contract.
(3) A right to set off or net out a termination value, payment
amount, or other transfer obligation arising in connection with at
least one (1) qualified financial contract in which the counterparty
or the counterparty's guarantor is organized under the laws of:
(A) the United States; or
(B) a state or foreign jurisdiction approved as eligible for
netting by the Securities Valuation Office of the NAIC.