Indiana Code 27-2-18-4. “Material acquisition” defined
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Sec. 4. As used in this chapter, “material acquisition” means an asset acquisition or a series of related asset acquisitions during any thirty (30) day period that:
(2) is not in the normal course of business; and
(1) is nonrecurring;
Terms Used In Indiana Code 27-2-18-4
- asset acquisition: includes every purchase, lease, exchange, merger, consolidation, succession, or other acquisition. See Indiana Code 27-2-18-1
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(3) involves more than five percent (5%) of the reporting insurer’s total admitted assets as reported in the insurer’s most recent statutory statement filed with the department.
As added by P.L.251-1995, SEC.17.