Sec. 1. Proceedings under this article apply to the following: (1) All insurers who are doing, or who have done, insurance business in Indiana, and against whom claims arising from that business may exist. (2) All insurers who purport to do insurance business in Indiana. (3) All insurers who have insureds resident in Indiana. (4) […]
Sec. 2. As used in IC 27-9: (a) “Ancillary state” means any state other than a domiciliary state. (b) “Collateral”, for purposes of IC 27-9-3-34.5, means cash, a letter of credit, a surety bond, or another form of security posted by an insured, a captive insurer, or reinsurer, to secure the insured’s obligation to: (1) […]
Sec. 3. (a) A delinquency proceeding under this chapter may only be commenced by the commissioner. A court may not entertain, hear, or determine a proceeding commenced by any other person. (b) A court may not entertain, hear, or determine any complaint requesting: (1) the dissolution, liquidation, rehabilitation, sequestration, conservation, or receivership of any insurer; […]
Sec. 3.5. Notwithstanding the Indiana rules of trial procedure or other law to the contrary, an automatic change of judge or change of venue from the Marion County circuit court may not be granted in any action brought by or against a receiver appointed in a proceeding under this article. A change of judge or […]
Sec. 4. (a) A receiver appointed in a proceeding under IC 27-9 may at any time apply for, and any court with general jurisdiction may grant, restraining orders, preliminary and permanent injunctions, and other orders as considered necessary and proper to prevent any of the following: (1) The transaction of further business. (2) The transfer […]
Sec. 5. (a) An officer, manager, director, trustee, owner, employee, or insurance producer of any insurer, or any other persons with authority over or in charge of any segment of the insurer’s affairs, shall cooperate with the commissioner in any proceeding under IC 27-9 or any investigation preliminary to the proceeding. The term “person”, as […]
Sec. 6. In any proceeding under IC 27-9, the commissioner and his deputies are responsible on their official bonds for the faithful performance of their duties. If the court considers it desirable for the protection of the insurer’s assets, the court may at any time require an additional bond from the commissioner or his deputies. […]
