Indiana Code 27-9-3.1-16. Notice to parties of transfer
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Terms Used In Indiana Code 27-9-3.1-16
- business day: means a day other than:
Indiana Code 27-9-3.1-2
- Contract: A legal written agreement that becomes binding when signed.
- netting agreement: means a new agreement that:
Indiana Code 27-9-3.1-6
- qualified financial contract: means a commodity contract, forward contract, repurchase agreement, securities contract, swap agreement, or a similar agreement, as determined by the commissioner. See Indiana Code 27-9-3.1-7
Sec. 16. If an insurer’s receiver makes a transfer of at least one (1) netting agreement or qualified financial contract under section 14 of this chapter, the receiver shall use the receiver’s best efforts to notify any person that is a party to the netting agreement or qualified financial contract before noon, local time of the receiver, on the business day following the transfer.
As added by P.L.11-2011, SEC.36.