Ind. Code § 27-9-3.1-17

Current through P.L. 171-2024

Section 27-9-3.1-17 - Avoidance of transfer by receiver

Notwithstanding IC 27-9-3 and this chapter, a receiver may not avoid a transfer of money or other property arising in connection with:

(1) a netting agreement or qualified financial contract;

(2) a pledge, security, collateral, reimbursement, guarantee agreement, or similar security agreement; or

(3) an arrangement or credit enhancement relating to a netting agreement or qualified financial contract;

made before the commencement of a formal delinquency proceeding under IC 27-9-3. However, a receiver may avoid a transfer made with actual intent to hinder, delay, or defraud the insurer, the insurer's receiver, or creditors.

IC 27-9-3.1-17

Added by P.L. 11-2011, SEC. 36, eff. 7/1/2011.