Indiana Code 27-14.5-2-14. Transfer of rights, liabilities, and authority to reorganized insurer
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Indiana Code 27-14.5-2-14
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Sec. 14. The reorganized insurer to which insurance policies, contracts, and other assets and obligations are transferred in connection with a plan of reorganization under this chapter has, with respect to the insurance policies, contracts, and other assets and obligations, all rights, liabilities, and authority of the mutual insurance company that is subject to the plan of reorganization.
As added by P.L.226-2023, SEC.30.