Indiana Code 27-6-9-13. Reinsurance intermediary-manager; requirements
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Sec. 13. No person, firm, association, or corporation may act as a RM:
(2) in this state, if the RM maintains an office either directly, or as a member or employee of a firm, limited liability company, or association, or as an officer, director, or employee of a corporation in this state, unless the RM is a licensed producer in this state;
(1) for a reinsurer domiciled in this state, unless the RM is a licensed producer in this state;
Terms Used In Indiana Code 27-6-9-13
- 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.
- insurer: means any person, firm, association or corporation duly licensed in Indiana pursuant to the applicable provisions of the insurance law as an insurer. See Indiana Code 27-6-9-4
- 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
- reinsurer: means any person, firm, association, or corporation duly licensed in Indiana pursuant to the applicable provisions of the insurance law as an insurer with the authority to assume reinsurance. See Indiana Code 27-6-9-9
(3) in another state for a nondomestic insurer, unless the RM is:
(A) a licensed producer in Indiana or another state having a law substantially similar to this chapter; or
(B) the person is licensed in this state as a nonresident reinsurance intermediary.
As added by P.L.26-1991, SEC.26. Amended by P.L.8-1993, SEC.424.