Indiana Code 27-1-12.7-9. Commissioner; conditions; rules
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Sec. 9. The commissioner may establish reasonable conditions or adopt rules under IC 4-22-2 regarding:
(2) accounting and reporting of funds credited under funding agreements; and
(1) reserve amounts to be maintained by a life insurance company for funding agreements;
Terms Used In Indiana Code 27-1-12.7-9
- Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
- Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
- life insurance company: means a life insurance company authorized to issue a product described in Class 1(c) of IC 27-1-5-1. See Indiana Code 27-1-12.7-3
(3) other matters regarding funding agreements the commissioner considers necessary, proper, and advisable.
As added by P.L.178-2003, SEC.18.