Ind. Code § 27-2-22-6

Current through P.L. 171-2024

Section 27-2-22-6 - "Retained asset account"

As used in this chapter, "retained asset account" means a mechanism through which the settlement of proceeds payable under a policy occurs by the insurer's deposit of the proceeds into a checking or draft account:

(1) in which the proceeds are retained by the insurer; and

(2) under a contract that is supplemental to the policy and does not involve annuity benefits.

IC 27-2-22-6

Added by P.L. 67-2011, SEC. 1, eff. 7/1/2011.