Terms Used In Indiana Code > Title 4 > Article 32.3 > Chapter 2 - Definitions

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Agreement: means the bargain of the parties in fact, as found in their language or inferred from other circumstances and from rules, regulations, and procedures given the effect of agreements under laws otherwise applicable to a particular transaction. See Indiana Code 26-2-8-102
• ambulance service provider: means a person that:

  Indiana Code 27-1-2.3-2

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• 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.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appraisal: A determination of property value.
• articles of incorporation: includes both the original articles of incorporation and any and all amendments thereto, except where the original articles of incorporation only are expressly referred to, and includes articles of merger, consolidation and reinsurance, and in case of corporations, heretofore organized, articles of reorganization filed in the office of the secretary of state, and all amendments thereto. See Indiana Code 27-1-2-3
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• audit committee: means a body established by the board of directors of a domestic insurer or group of insurers for the purpose of overseeing:

  Indiana Code 27-1-3.5-0.5

• Automated transaction: means a transaction conducted or performed, in whole or in part, by electronic means or electronic records in which the acts or records of one (1) or both parties are not reviewed by an individual in the ordinary course in forming a contract, performing under an existing contract, or fulfilling an obligation required by the transaction. See Indiana Code 26-2-8-102
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• 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}
• Business entity: means a corporation, nonprofit corporation, limited liability company, limited liability partnership, limited partnership, business trust, real estate investment trust, or any other entity that is formed under the requirements of applicable Indiana law. See Indiana Code 26-2-8-102
• capital: means the aggregate amount paid in on the shares of capital stock of a corporation issued and outstanding. See Indiana Code 27-1-2-3
• capital stock: means the aggregate amount of the par value of all shares of capital stock. See Indiana Code 27-1-2-3
• casualty insurance company: means any company making the kind or kinds of insurance set out and defined in class 2 of IC 27-1-5-1. See Indiana Code 27-1-2-3
• certificate of authority: means an instrument in writing issued by the department to an insurer, which sets out the authority of such insurer to engage in the business of insurance or activities connected therewith. See Indiana Code 27-1-2-3
• CGAD: means a confidential report filed by an insurer or insurance group under this chapter. See Indiana Code 27-1-4.1-2
• Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
• check: includes a draft. See Indiana Code 26-2-7-1
• clean claim: means a claim for payment for ambulance service:

  Indiana Code 27-1-2.3-2.8

• Clerk: means the clerk of the court or a person authorized to perform the clerk's duties. See Indiana Code 1-1-4-5
• commissioner: refers to the insurance commissioner appointed under IC 27-1-1-2. See Indiana Code 27-1-3.1-1
• commissioner: refers to the insurance commissioner appointed under IC 27-1-1-2. See Indiana Code 27-1-3.5-1
• Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• company: means any person engaging in or proposing or attempting to engage in any transaction or kind of insurance or surety business and any person or group of persons who may otherwise be subject to the administrative, regulatory, or taxing authority of the commissioner. See Indiana Code 27-1-3.1-2
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Computer program: means a set of statements or instructions to be used directly or indirectly in an information processing system in order to bring about a certain result. See Indiana Code 26-2-8-102
• Constituent: means a person who holds a position defined in the business entity's organic law that permits the person, directly or indirectly, to own, manage, or operate a business entity either alone or with others. See Indiana Code 26-2-8-102
• Contract: A legal written agreement that becomes binding when signed.
• Contract: means the total legal obligation resulting from the parties' agreement as affected by this chapter and other applicable law. See Indiana Code 26-2-8-102
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• corporation: as used in this chapter and IC 27-1-8, means any company organized or reorganized under the provisions of this article and any company organized or reorganized under the provisions of any statute of this state enacted prior to March 8, 1935. See Indiana Code 27-1-7-1
• corporation: has the meaning set forth in IC 27-1-2-3. See Indiana Code 27-1-7.5-1
• corporation: means an insurance company and includes all persons, partnerships, corporations, associations, orders or societies engaged in or proposing to engage in making any kind of insurance authorized by the laws of this state. See Indiana Code 27-1-2-3
• covered individual: means an individual who is entitled to coverage under a health plan. See Indiana Code 27-1-2.3-3
• credit agreement: means an agreement to:

  Indiana Code 26-2-9-1

• creditor: means :

  Indiana Code 26-2-9-2

• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• debtor: means a person who:

  Indiana Code 26-2-9-3

• Deed: The legal instrument used to transfer title in real property from one person to another.
• default: means the failure of a renter to perform, in a timely fashion, any duty imposed by section 10 of this chapter or by a rental agreement. See Indiana Code 26-3-8-1
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• department: refers to the department of insurance of Indiana. See Indiana Code 27-1-3.1-3
• Department: means "the department of insurance" of this state. See Indiana Code 27-1-2-3
• Dependent: A person dependent for support upon another.
• director: means an individual who is or was a director of a corporation or an individual who, while a director of a corporation, is or was serving at the corporation's request as a director, officer, partner, trustee, employee, or agent of another foreign or domestic corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise, whether for profit or not. See Indiana Code 27-1-7.5-2
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• domestic corporation: means an insurance company organized under the insurance laws of this state. See Indiana Code 27-1-2-3
• domestic insurer: means an insurer organized under the laws of Indiana. See Indiana Code 27-1-3.5-2
• Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See Indiana Code 26-2-8-102
• Electronic agent: means a computer program or an electronic or other automated means used to initiate an action or respond to electronic records or performances in whole or in part without review by an individual at the time of the action or response. See Indiana Code 26-2-8-102
• electronic mail: means the transmission, by use of a computer or through other electronic means, of information or a communication that is sent to a person identified by a unique address. See Indiana Code 26-3-8-0.5
• Electronic record: means a record created, generated, sent, communicated, received, or stored by electronic means. See Indiana Code 26-2-8-102
• Electronic signature: means an electronic sound, symbol, or process attached to or logically associated with an electronic record and executed or adopted by a person with the intent to sign the electronic record. See Indiana Code 26-2-8-102
• Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
• emergency: means any sudden, unexpected occurrence or circumstance at or near a self-service storage facility that requires immediate action to avoid injury to persons or property at or near the self-service storage facility. See Indiana Code 26-3-8-2
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• examiner: means any individual or firm authorized by the commissioner to conduct an examination under this chapter. See Indiana Code 27-1-3.1-4
• Executive session: A portion of the Senate's daily session in which it considers executive business.
• expenses: includes counsel fees. See Indiana Code 27-1-7.5-3
• Fiduciary: A trustee, executor, or administrator.
• financial institution: refers to a financial institution (as defined in IC 28-1-1-3). See Indiana Code 26-2-7-2
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Governing documents: means the publicly filed and nonpublicly filed organic documents of a business entity. See Indiana Code 26-2-8-102
• Governmental agency: means an executive, legislative, or judicial agency, department, board, commission, authority, institution, instrumentality, or other political subdivision of the state. See Indiana Code 26-2-8-102
• Grantor: The person who establishes a trust and places property into it.
• group of insurers: means two (2) or more insurers that are part of an insurance holding company system. See Indiana Code 27-1-3.5-2.6
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• health care sharing ministry: means a nonprofit organization that:

  Indiana Code 27-1-2.1-1

• health plan: means any of the following:

  Indiana Code 27-1-2.3-4

• health plan operator: means the following:

  Indiana Code 27-1-2.3-5

• Highway: includes county bridges and state and county roads, unless otherwise expressly provided. See Indiana Code 1-1-4-5
• in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• independent auditor: means a certified public accountant or a certified public accounting firm that conducts an annual audit of a domestic insurer as required by this chapter. See Indiana Code 27-1-3.5-3
• Information: means data, text, images, sounds, codes, computer programs, software, databases, or the like. See Indiana Code 26-2-8-102
• Information processing system: means an electronic system for creating, generating, sending, receiving, storing, displaying, or processing information. See Indiana Code 26-2-8-102
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
• insurance group: means insurers and affiliates of an insurance holding company system (as defined in IC 27-1-23-1). See Indiana Code 27-1-4.1-3
• insurance holding company system: has the meaning set forth in IC 27-1-23-1. See Indiana Code 27-1-3.5-3.1
• insurer: has the meaning set forth in IC 27-1-2-3. See Indiana Code 27-1-3.1-5
• insurer: means a company, firm, partnership, association, order, society or system making any kind or kinds of insurance and shall include associations operating as Lloyds, reciprocal or inter-insurers, or individual underwriters. See Indiana Code 27-1-2-3
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• internal audit function: means a process that provides independent, objective, and reasonable assurance that is designed to:

  Indiana Code 27-1-3.5-3.2

• internal control over financial reporting: means a process effected by a domestic insurer's board of directors, management, or other personnel that is designed to provide reasonable assurance regarding the reliability of financial statements of the domestic insurer, including the following:

  Indiana Code 27-1-3.5-3.3

• Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• last known address: means the postal address or electronic mail address provided to the owner by the renter:

  Indiana Code 26-3-8-3

• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• liability: means the obligation to pay a judgment, settlement, penalty, fine (including an excise tax assessed with respect to an employee benefit plan), or reasonable expenses incurred with respect to a proceeding. See Indiana Code 27-1-7.5-4
• Lien: A claim against real or personal property in satisfaction of a debt.
• life insurance company: means any company making one or more of the kinds of insurance set out and defined in class 1(a) of IC 27-1-5-1. See Indiana Code 27-1-2-3
• Medicaid audit: refers to the audit required by Indiana Code 27-1-3.7-1
• member: means one who holds a contract of insurance or is insured in an insurance company other than a stock corporation. See Indiana Code 27-1-2-3
• Month: means a calendar month, unless otherwise expressed. See Indiana Code 1-1-4-5
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• motor vehicle: means a vehicle that is self-propelled. See Indiana Code 26-2-10-1
• motor vehicle repossession agent: means a person who physically repossesses a motor vehicle or watercraft on behalf of another person or on the person's own behalf. See Indiana Code 26-2-10-2
• NAIC: refers to the National Association of Insurance Commissioners. See Indiana Code 27-1-4.1-5
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Noncode statute: means a statute that is not codified as part of the Indiana Code. See Indiana Code 1-1-4-5
• nonprofit agricultural organization: means an organization:

  Indiana Code 27-1-2.2-1

• nonprofit agricultural organization coverage: means health benefit coverage that is:

  Indiana Code 27-1-2.2-2

• 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.
• official capacity: means :

  Indiana Code 27-1-7.5-5

• Organic actions: means actions, notices, consents, and signatures relating to the operation of a business entity that are undertaken among constituents of that business entity or among constituents of a business entity and that business entity. See Indiana Code 26-2-8-102
• Oversight: Committee review of the activities of a Federal agency or program.
• owner: means :

  Indiana Code 26-3-8-6

• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• party: includes an individual who was, is, or is threatened to be made a named defendant or respondent in a proceeding. See Indiana Code 27-1-7.5-6
• Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, governmental agency, public corporation, or any other legal or commercial entity. See Indiana Code 26-2-8-102
• person: means an individual, a corporation, a limited liability company, a partnership, or another legal entity. See Indiana Code 27-1-2.3-7
• person: means any individual, aggregation of individuals, trust, association, partnership, limited liability company, or corporation, or any affiliate of these entities. See Indiana Code 27-1-3.1-7
• person: includes individuals, corporations, associations, and partnerships; personal pronoun includes all genders; the singular includes the plural and the plural includes the singular. See Indiana Code 27-1-2-3
• Personal property: All property that is not real property.
• personal property: means movable property not affixed to land. See Indiana Code 26-3-8-7
• Personal property: includes goods, chattels, evidences of debt, and things in action. See Indiana Code 1-1-4-5
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• policyholder: means one who is a holder of a contract of insurance in an insurance company. See Indiana Code 27-1-2-3
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• premium: means money or any other thing of value paid or given in consideration to an insurer, insurance producer, or solicitor on account of or in connection with a contract of insurance and shall include as a part but not in limitation of the above, policy fees, admission fees, membership fees and regular or special assessments and payments made on account of annuities. See Indiana Code 27-1-2-3
• principal office: means that office maintained by the corporation in this state, the address of which is required by the provisions of this article to be kept on file in the office of the department. See Indiana Code 27-1-2-3
• Probate: Proving a will
• proceeding: means any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative and whether formal or informal. See Indiana Code 27-1-7.5-7
• Property: includes personal and real property. See Indiana Code 1-1-4-5
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Quorum: The number of legislators that must be present to do business.
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Indiana Code 26-2-8-102
• Reinsurer: means an insurer that:

  Indiana Code 27-1-2-3

• rental agreement: means any written agreement or lease that establishes or modifies the terms under which a renter may store personal property in a rented space in a self-service storage facility. See Indiana Code 26-3-8-8
• rented space: means the individual storage space at a self-service storage facility that is rented to a renter under a rental agreement. See Indiana Code 26-3-8-4
• renter: means :

  Indiana Code 26-3-8-5

• repossesses: means to take possession of personal property used as collateral under Indiana Code 26-2-10-3
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Security procedure: means a procedure employed for the purpose of verifying that an electronic signature, record, or performance is that of a specific person or for detecting changes or errors in the information in an electronic record. See Indiana Code 26-2-8-102
• self-service storage facility: means any real property designed and used for the renting of space under a rental agreement that provides a renter access to rented space for the storage and retrieval of personal property. See Indiana Code 26-3-8-9
• Service of process: The service of writs or summonses to the appropriate party.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• shareholder: means one who is a holder of record of shares of stock in a corporation, unless the context otherwise requires. See Indiana Code 27-1-2-3
• Sheriff: means the sheriff of the county or another person authorized to perform sheriff's duties. See Indiana Code 1-1-4-5
• SOX compliant entity: means an entity that is required to be compliant, or is voluntarily compliant, with all of the following provisions of the federal Sarbanes-Oxley Act of 2002 (Public Law 107-204):

  Indiana Code 27-1-3.5-3.7

• state employee health plan: means either of the following:

  Indiana Code 27-1-2.3-7.5

• state employee health plan: refers to the following plans that provide coverage for prescription drugs:

  Indiana Code 27-1-3.7-2

• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Summons: Another word for subpoena used by the criminal justice system.
• Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Transaction: means an action or set of actions relating to the conduct of business, commercial, or governmental affairs and occurring between two (2) or more persons. See Indiana Code 26-2-8-102
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trustee: A person or institution holding and administering property in trust.
• United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
• Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
• Venue: The geographical location in which a case is tried.
• Verified: when applied to pleadings, means supported by oath or affirmation in writing. See Indiana Code 1-1-4-5
• verified mail: means any method of mailing that:

  Indiana Code 26-3-8-9.5

• watercraft: has the meaning set forth in Indiana Code 26-2-10-5
• work papers: means the records kept by the independent auditor of the procedures followed, the tests performed, the information obtained, and the conclusions reached by the independent auditor's audit of the financial statements of a domestic insurer. See Indiana Code 27-1-3.5-4
• Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5