Indiana Code 27-1-29.1-3. “Liability” defined
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Sec. 3. As used in this chapter, “liability” means an obligation arising from:
(2) any other claim for which coverage is provided for members of the fund under rules adopted by the commission.
(1) multiple claims for the payment of money that are within the limits set forth in IC 34-13-3-4 (or IC 34-4-16.5-4 before its repeal) and that arise from a single catastrophic occurrence; or
Terms Used In Indiana Code 27-1-29.1-3
- commission: refers to the Indiana political subdivision risk management commission established by IC 27-1-29-5. See Indiana Code 27-1-29.1-1
- fund: refers to the political subdivision catastrophic liability fund established by this chapter. See Indiana Code 27-1-29.1-2
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
As added by P.L.272-1987, SEC.7. Amended by P.L.1-1998, SEC.146.