Indiana Code 27-15-11-4. Sufficiency of assets
Current as of: 2024 | Check for updates
|
Other versions
Sec. 4. The assets allocated to the closed block, together with the revenue from the closed block, must be reasonably sufficient to:
(2) provide for:
(1) support the business in the closed block until the time the last policy in the closed block has terminated, including payment of claims and those expenses and taxes as are specified in the plan of conversion; and
Terms Used In Indiana Code 27-15-11-4
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(A) continuation of dividend scales in effect on the date the board of directors adopted the resolution proposing the plan of conversion, if the experience underlying those scales continues; and
(B) appropriate adjustments in the scales if the experience changes.
As added by P.L.94-1999, SEC.3.