Indiana Code 27-1-36-51. Liquidation of property of foreign insurer
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Sec. 51. If:
(2) no domiciliary receiver has been appointed with respect to the foreign insurer under the rehabilitation and liquidation statute applicable in the state of domicile of the foreign insurer;
(1) a mandatory control level event occurs with respect to a foreign insurer; and
Terms Used In Indiana Code 27-1-36-51
- Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
- foreign insurer: means the following:
Indiana Code 27-1-36-9
- insurer: includes :
Indiana Code 27-1-36-9.6
- mandatory control level event: has the meaning set forth in section 41 of this chapter. See Indiana Code 27-1-36-11
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Statute: A law passed by a legislature.
the commissioner may apply to the Marion County circuit court with respect to the liquidation of property of the foreign insurer that is found in Indiana. The occurrence of the mandatory control level event is adequate grounds for the application.
As added by P.L.186-1996, SEC.1.