Indiana Code 27-1-12.8-39. Exemptions of certain products from requirements
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Sec. 39. (a) The commissioner may exempt specific product forms or product lines of a domestic company that is licensed and doing business only in Indiana from the requirements of section 34 of this chapter if:
(2) the company computes reserves using assumptions and methods used before the operative date of the valuation manual in addition to requirements established by the commissioner in rules adopted under IC 4-22-2.
(1) the commissioner has issued an exemption in writing to the company and has not subsequently revoked the exemption in writing; and
Terms Used In Indiana Code 27-1-12.8-39
- Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
- reserves: means reserve liabilities. See Indiana Code 27-1-12.8-15
(b) With respect to a company granted an exemption under this section, sections 21 through 33 of this chapter apply. With respect to a company applying the exemption under this section, a reference to section 34 of this chapter in sections 21 through 33 of this chapter does not apply.
As added by P.L.276-2013, SEC.10.