Indiana Code 27-2-15-8. Satisfaction of contractual liability
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Terms Used In Indiana Code 27-2-15-8
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
Sec. 8. Insurance proceeds set aside in an escrow account under section 5 of this chapter shall be considered as having been paid to the insured in satisfaction of any contractual liability under the policy.
As added by P.L.247-1989, SEC.2.