Indiana Code 27-1-35-16. Orders to cease placing business
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Terms Used In Indiana Code 27-1-35-16
- Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
- controlled: has the meaning set forth in IC 27-1-23-1. See Indiana Code 27-1-35-4
- controlling producer: means a producer that, directly or indirectly, controls an insurer. See Indiana Code 27-1-35-6
- insurer: means any person, firm, association, or corporation licensed to transact a property/casualty insurance business in Indiana. See Indiana Code 27-1-35-7
- person: includes individuals, corporations, associations, and partnerships; personal pronoun includes all genders; the singular includes the plural and the plural includes the singular. See Indiana Code 27-1-2-3
- producer: means an insurance broker or brokers or any other person, firm, association, or corporation, when, for any compensation, commission, or other thing of value, the person, firm, association, or corporation acts or aids in any manner in soliciting, negotiating, or procuring the making of any insurance contract on behalf of an insured other than the person, firm, association, or corporation. See Indiana Code 27-1-35-8
Sec. 16. If the commissioner believes that the controlling producer or any other person has not materially complied with this chapter or any rule or order adopted under this chapter, after notice and opportunity to be heard, the commissioner may order the controlling producer to cease placing business with the controlled insurer.
As added by P.L.130-1994, SEC.36 and P.L.116-1994, SEC.47.