Indiana Code 27-1-29-11. Fund members; eligibility; assessments; surcharge levies; payment of liabilities

Sec. 11. All political subdivisions are eligible for membership in the fund. Each member of the fund:

(1) shall contribute to the fund in the amount of the assessment charged the member under this chapter;

Ask an insurance law question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

fund: refers to the political subdivision risk management fund established by this chapter. See Indiana Code 27-1-29-2
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
member: means one who holds a contract of insurance or is insured in an insurance company other than a stock corporation. See Indiana Code 27-1-2-3

(2) shall pay the annual surcharge levied against the member under this chapter; and

(3) is entitled to payment of its liabilities from the fund under this chapter.

As added by P.L.162-1986, SEC.1.