Indiana Code 27-1-13-14. Casualty and liability insurance; qualified public transportation agency; group coverage for functions
“Casualty and liability insurance” means insurance included in Class II and Class III of IC 27-1-5-1.
Terms Used In Indiana Code 27-1-13-14
- Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
- person: includes individuals, corporations, associations, and partnerships; personal pronoun includes all genders; the singular includes the plural and the plural includes the singular. See Indiana Code 27-1-2-3
(1) A public transportation corporation established under IC 36-9-4.
(2) An agency of a city that provides for public transportation.
(3) An agency of a town that provides for public transportation.
(4) An agency of a township that provides for public transportation.
(5) Any person who provides public transportation to a county under an agreement with the county.
(b) A company authorized to issue casualty and liability insurance policies in Indiana may sell group casualty and liability insurance to two (2) or more qualified public transportation agencies only for the purpose of insuring their public transportation functions.
As added by P.L.256-1983, SEC.1.