Sec. 13. (a) The
commission shall pay
liabilities of members of the
fund in accordance with rules established by the commission.
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Terms Used In Indiana Code 27-1-29-13
- commission: refers to the Indiana political subdivision risk management commission established by this chapter. See Indiana Code 27-1-29-1
- fund: refers to the political subdivision risk management fund established by this chapter. See Indiana Code 27-1-29-2
- 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
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- liability: means an obligation arising from a claim for the payment of money in an amount established under IC 34-13-3 (or Indiana Code 27-1-29-3
- 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
(1) Any insurance policy issued to a member of the fund that, by its terms, provides coverage secondary to coverage provided through membership in the fund.
(2) A fund member’s own program of self insurance.
Payment of a liability identified in this subsection must be made within the limits set forth in section 14(b) of this chapter and irrespective of the existence of an insurance policy described in subdivision (1) or of a self insurance program described in subdivision (2).
As added by P.L.162-1986, SEC.1. Amended by P.L.1-1998, SEC.144.
