Indiana Code 27-1-29-11. Fund members; eligibility; assessments; surcharge levies; payment of liabilities
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Sec. 11. All political subdivisions are eligible for membership in the fund. Each member of the fund:
(2) shall pay the annual surcharge levied against the member under this chapter; and
(1) shall contribute to the fund in the amount of the assessment charged the member under this chapter;
Terms Used In Indiana Code 27-1-29-11
- fund: refers to the political subdivision risk management fund established by this chapter. See Indiana Code 27-1-29-2
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- member: means one who holds a contract of insurance or is insured in an insurance company other than a stock corporation. See Indiana Code 27-1-2-3
(3) is entitled to payment of its liabilities from the fund under this chapter.
As added by P.L.162-1986, SEC.1.