Indiana Code 27-2-15-1. “Available insurance proceeds” defined
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Sec. 1. As used in this chapter, “available insurance proceeds” means the proceeds payable under an insurance policy based upon a claim for damage to or loss of a building or other structure caused by fire or explosion, minus proceeds paid to:
(2) take emergency action necessary to secure the premises;
(1) the insured for emergency living expenses;
Terms Used In Indiana Code 27-2-15-1
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
(3) prevent further damage to the premises; or
(4) a lienholder or mortgagee who is not the target of an investigation by an authorized agency (as defined in IC 27-2-13-1).
As added by P.L.247-1989, SEC.2.