Indiana § 27-9-3.1-14 Transfer of amounts with receiver

Indiana Statutes

§ 27-9-3.1-14 — Transfer of amounts with receiver

Indiana § 27-9-3.1-14

Title 27INSURANCE

Art. 9SUPERVISION; REHABILITATION;

Ch. 3.1Treatment of Certain Agreements

This text of Indiana § 27-9-3.1-14 (Transfer of amounts with receiver) 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 § 27-9-3.1-14 (2026).

Text

(a)Notwithstanding a walkaway clause in a netting agreement or qualified financial contract, upon termination of the netting agreement or qualified financial contract, any net or settlement amount owed by a nondefaulting party to an insurer against which an application or petition has been filed under IC 27-9-3 must be transferred:

(1)to; or

(2)according to the order of; the receiver for the insurer, regardless of whether the insurer is the defaulting party.

(b)For purposes of subsection (a), a limited two-way payment or first method provision in a netting agreement or qualified financial contract with an insurer that has defaulted is considered to be a full two-way payment or second method provision as against the defaulting insurer.

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

(a) Notwithstanding a walkaway clause in
a netting agreement or qualified financial contract, upon termination of
the netting agreement or qualified financial contract, any net or
settlement amount owed by a nondefaulting party to an insurer against
which an application or petition has been filed under IC 27-9-3 must be
transferred:
(1) to; or
(2) according to the order of;
the receiver for the insurer, regardless of whether the insurer is the
defaulting party.
(b) For purposes of subsection (a), a limited two-way payment or
first method provision in a netting agreement or qualified financial
contract with an insurer that has defaulted is considered to be a full
two-way payment or second method provision as against the defaulting
insurer.