Indiana Code 27-1-29-3. “Liability” defined
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Terms Used In Indiana Code 27-1-29-3
- commission: refers to the Indiana political subdivision risk management commission established by this chapter. See Indiana Code 27-1-29-1
- fund: refers to the political subdivision risk management fund established by this chapter. See Indiana Code 27-1-29-2
- 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.
Sec. 3. As used in this chapter, “liability” means an obligation arising from a claim for the payment of money in an amount established under IC 34-13-3 (or IC 34-4-16.5 before its repeal) or any other claim for which coverage is provided for members of the fund under rules adopted by the commission.
As added by P.L.162-1986, SEC.1. Amended by P.L.1-1998, SEC.141.