Indiana Code 27-8-18-5. Inquiry into legal status of charitable entity
Current as of: 2023 | Check for updates
|
Other versions
Sec. 5. A life insurance company that is requested to:
(2) transfer ownership of a life insurance policy;
(1) issue a life insurance policy; or
Terms Used In Indiana Code 27-8-18-5
- charitable entity: means an entity that is exempt from federal taxation under Section 501(c)(3) of the Internal Revenue Code (26 U. See Indiana Code 27-8-18-2
- life insurance policy: means an insurance policy that provides the type of insurance described in Class 1(a) of IC 27-1-5-1. See Indiana Code 27-8-18-3
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
to an entity that is purported to be a charitable entity has no obligation to inquire into the legal status of that entity under any law.
As added by P.L.129-1992, SEC.1.