Ind. Code § 27-1-3-26

Current through P.L. 171-2024

Section 27-1-3-26 - Order to limit ordinary shareholder dividends

The department shall establish and follow a practice under which the department issues an order to a domestic insurer to limit the payment of ordinary shareholder dividends by the insurer if the department determines that the surplus of the insurer as regards policyholders:

(1) is not reasonable in relation to the outstanding liabilities of the insurer; and

(2) is not adequate to the financial needs of the insurer.

IC 27-1-3-26

As added by P.L. 130-1994, SEC.5 and P.L. 116-1994, SEC.9.