Sec. 11. (a) Notwithstanding any other provision of this title, a corporate
fiduciary may act as an insurance producer for the sale of any
annuity contract or any life insurance policy issued by a life insurance company (as defined in
IC 27-1-2-3) authorized to do business in Indiana under
IC 27-1.
Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.
Terms Used In Indiana Code 28-14-3-11
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Contract: A legal written agreement that becomes binding when signed.
- Fiduciary: A trustee, executor, or administrator.
(1) is subject to all requirements of IC 27 relating to the sale and solicitation of insurance, including licensing as an insurance producer under IC 27-1-15.6; and
(2) must comply with the disclosure requirements under IC 27-1-38.
As added by P.L.262-1995, SEC.90. Amended by P.L.215-1999, SEC.14; P.L.132-2001, SEC.21; P.L.130-2002, SEC.9; P.L.178-2003, SEC.95.
