Sec. 12. (a) Every such accident insurance corporation, association, or society doing business under this chapter shall, on or before March 1 in each year, make and file with the insurance commissioner a report of its affairs and operations during the year ending on December 31 immediately preceding, which report shall be in lieu of all other reports required by this title and shall be verified by such officers of the corporation, association or society, as the commissioner may require, and shall contain answers to the following questions:

(1) First, what number of certificates or policies were issued during the year or applicants admitted?

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Terms Used In Indiana Code 27-8-3-12

  • 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.
  • Verified: when applied to pleadings, means supported by oath or affirmation in writing. See Indiana Code 1-1-4-5
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(2) Second, what was the amount of death indemnity affected thereby?

(3) Third, what number of death losses were incurred?

(4) Fourth, what number of death losses were paid and amount thereof?

(5) Fifth, what were the total number of indemnity claims paid and amount thereof?

(6) Sixth, what were the number of death and number of indemnity claims unpaid?

(7) Seventh, does the corporation, association, or society charge annual dues or membership fee? If so, how much?

(8) Eighth, what was the total amount received and whether from assessment, annual dues, membership fees, or other sources, and the disposition thereof?

(9) Ninth, does corporation, association, or society use moneys received for payment of claims to pay expenses, in whole or in part? And, if so, state the amount used.

(10) Tenth, what is the amount of the emergency fund and how invested?

(11) Eleventh, if organized under the laws of this state, state such fact and the date of organization.

(12) Twelfth, what were the number of policies in force and death insurance in force at the beginning of the year, and such other information as may be required by the superintendent of insurance?

     (b) Any corporation, association, or society refusing or neglecting to make such report or to make payment of any one of the fees required by this chapter shall, upon the order of the insurance commissioner, cease to do business in this state until such report and payment shall be made and until the costs of such action be paid.

Formerly: Acts 1897, c.195, s.12. As amended by P.L.252-1985, SEC.284.

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