Indiana Code 27-1-36-34. Filing RBC plan with commissioner of state other than Indiana
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Sec. 34. (a) A domestic insurer that files an RBC plan or a revised RBC plan with the commissioner shall file a copy of the RBC plan or revised RBC plan with the insurance commissioner in each state other than Indiana in which the insurer is authorized to do business, if:
(2) the insurance commissioner of that state has notified the insurer in writing of its request for the filing.
(1) the state has an RBC provision substantially similar to section 45 of this chapter; and
Terms Used In Indiana Code 27-1-36-34
- Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
- domestic insurer: means any:
Indiana Code 27-1-36-8
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
- 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
- insurer: includes :
Indiana Code 27-1-36-9.6
- RBC: refers to risk based capital. See Indiana Code 27-1-36-16
- RBC plan: means a comprehensive financial plan containing the elements specified in section 30 of this chapter. See Indiana Code 27-1-36-19
- revised RBC plan: means the revised RBC plan that an insurer must prepare, with or without the commissioner's recommendation, if the commissioner rejects the insurer's previous RBC plan. See Indiana Code 27-1-36-23
(b) If an insurer is required under subsection (a) to file its RBC plan or revised RBC plan with the insurance commissioner of a state other than Indiana, the insurer shall file the RBC plan or revised RBC plan not later than:
(1) fifteen (15) days after the insurer receives notice under subsection (a)(2); or
(2) the date on which the RBC plan or revised RBC plan is filed under sections 31 and 32 of this chapter;
whichever occurs later.
As added by P.L.186-1996, SEC.1.