Sec. 1. (a) Every company created by special act of the general assembly of the state of Indiana for the purpose of transacting the business of insurance shall, on or before the third Monday of January of each year, furnish the insurance commissioner with a statement, verified by the oaths of the president and secretary of said company and signed by a majority of the directors of such company, which statement shall show the following:

(1) First, the name and locality of the company.

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Terms Used In Indiana Code 27-2-2-1

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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, the amount of its capital stock.

(3) Third, the amount of its capital stock paid-in.

(4) Fourth, the assets of the company, including the following:

(A) The amount of cash on hand and in the hands of agents or other persons.

(B) The value of its real estate.

(C) The bonds owned by the company and how they are secured, with the rate of interest.

(D) Debts to the company secured by mortgage.

(E) Debts otherwise secured.

(F) Debts for premiums.

(G) All other securities.

(5) Fifth, the amount of liabilities due or not due to banks or other creditors of the company.

(6) Sixth, losses adjusted and due.

(7) Seventh, losses adjusted and not due.

(8) Eighth, losses unadjusted.

(9) Ninth, losses in suspense waiting for further proof.

(10) Tenth, all other claims against the company.

(11) Eleventh, the greatest amount insured in any one (1) risk.

(12) Twelfth, the greatest amount allowed by the rules of the company to be insured in any one (1) city or town.

(13) Thirteenth, the greatest amount allowed to be insured in any one (1) block.

     (b) The insurance commissioner shall cause a copy of such annual statement to be published in the two (2) leading daily newspapers of the state having the largest general circulation and also in some newspaper of general circulation, printed and published in the city or town in which the principal office of such company is located, provided that not more than one dollar ($1) per square shall be paid for each one (1) of such publications, the expense to be paid by the company; and provided further, that it shall be the duty of the commissioner to furnish such company with a certified copy of such statement or report whenever so requested to do by any officer of such company.

Formerly: Acts 1899, c.134, s.1. As amended by P.L.252-1985, SEC.125; P.L.11-1987, SEC.29.

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