Indiana Code 27-6-9-12. Reinsurance intermediary-broker; requirements
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Sec. 12. No person, firm, association, or corporation may act as a RB in Indiana if the RB maintains an office either directly, or as a member or employee of a firm or association, or as an officer, director, or employee of a corporation:
(2) in another state, unless the RB:
(1) in Indiana, unless the RB is a licensed producer in Indiana; or
Terms Used In Indiana Code 27-6-9-12
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- licensed producer: means an insurance producer, broker, or reinsurance intermediary licensed pursuant to the applicable provision of the insurance law. See Indiana Code 27-6-9-5
- reinsurance intermediary: means :
Indiana Code 27-6-9-6
(A) is a licensed producer in Indiana or another state having a law substantially similar to this chapter; or
(B) is licensed in Indiana as a nonresident reinsurance intermediary.
As added by P.L.26-1991, SEC.26.