Ind. Code § 27-7-10-4

Current through P.L. 171-2024

Section 27-7-10-4 - "Hazardous financial condition" defined

As used in this chapter, "hazardous financial condition" means that, based on its present or reasonably anticipated financial condition, a risk retention group, although not yet financially impaired or insolvent, is unlikely to be able to:

(1) meet obligations to policyholders with respect to known claims and reasonably anticipated claims; or

(2) pay other obligations in the normal course of business.

IC 27-7-10-4

As added by P.L. 162-1988, SEC.2.