Sec. 19. As used in this chapter, “risk retention group” means a trust, pool, corporation, limited liability company, partnership, or joint venture funded by and owned and operated for the benefit of more than one (1) eligible member.
[Pre-2007 Higher Education Recodification Citation: 20-12-63-3(13).]
As added by P.L.2-2007, SEC.69.
Terms Used In Indiana Code 5-1-16.5-19
- eligible member: means a state educational institution or any nonprofit college or university. See Indiana Code 5-1-16.5-12
- liability: means legal liability for damages (including costs of defense, legal costs and fees, and other claims for expenses) because of injuries to other persons or entities, damage to the property or business of other persons or entities, or other damage or loss to such other persons or entities resulting from or arising out of any activity of an eligible member. See Indiana Code 5-1-16.5-13