Indiana Code 27-1-30.4-1. “Permitted group”
Current as of: 2023 | Check for updates
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Sec. 1. As used in this chapter, “permitted group” means a group of ten (10) or more commercial, business, or not-for-profit entities that have a preexisting relationship to one another through:
(2) an association;
(1) a common trade;
Terms Used In Indiana Code 27-1-30.4-1
- 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
(3) an affiliation; or
(4) another organizational relationship that is separate and distinct from any group insurance arrangement of the group.
As added by P.L.165-2022, SEC.5.