§ 27-8-18-1 Application of chapter
§ 27-8-18-2 “Charitable entity”
§ 27-8-18-3 “Life insurance policy”
§ 27-8-18-4 Purchase, ownership, or transfer of ownership; consent; insurable interest
§ 27-8-18-5 Inquiry into legal status of charitable entity
§ 27-8-18-6 Reliance on good faith representations
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Terms Used In Indiana Code > Title 27 > Article 8 > Chapter 18 - Charitable Entity's Insurable Interest in Life of Donor

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • charitable entity: means an entity that is exempt from federal taxation under Section 501(c)(3) of the Internal Revenue Code (Indiana Code 27-8-18-2
  • life insurance policy: means an insurance policy that provides the type of insurance described in Class 1(a) of IC 27-1-5-1. See Indiana Code 27-8-18-3
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.