Section 27-1-13-15 - Property and casualty insurance blanket policies for planned unit development owners association or corporation(a) As used in this section, "planned unit development" has the meaning set forth in IC 36-7-1-14.5.(b) As used in this section, "property and casualty insurance" means one (1) or more of the types of insurance described in IC 27-1-5-1, Class 2 and Class 3.(c) An insurance company may issue a blanket policy of property and casualty insurance to an association or a nonprofit corporation composed of the owners of the property within a planned unit development for the purpose of insuring: (1) the association or nonprofit corporation;(2) the owners of the property within the planned unit development;(3) the executive body of the association or nonprofit corporation;(4) the managing agent of the association or nonprofit corporation, if any;(5) all persons who act as agents or employees of:(A) the association or nonprofit corporation;(B) the owners of the property;(C) the executive body; or(D) the managing agent; with respect to the planned unit development; and
(6) all other persons entitled to occupy any unit or other portion of the planned unit development, including property owners; against losses under this subsection, including loss or damage to property within the planned unit development and loss of use or occupancy.
(d) An association or a nonprofit corporation composed of the owners of all of the property within a planned unit development is authorized to purchase an insurance policy described in subsection (c).As added by P.L. 116-1994, SEC.29. Amended by P.L. 1-2010, SEC.110.