2012 Indiana Code
TITLE 27. INSURANCE
ARTICLE 18. SURPLUS LINES INSURANCE COMPACT
CHAPTER 13. COMPACTING STATES, EFFECTIVE DATE, AND AMENDMENT

IC 27-18-13
Chapter 13. Compacting States, Effective Date, and Amendment

IC 27-18-13-1
Eligibility to become compacting state
Sec. 1. Any state is eligible to become a compacting state.
As added by P.L.111-2011, SEC.1.

IC 27-18-13-2
Effectiveness of compact; commission; clearinghouse operations
Sec. 2. (a) Subject to subsection (b), this compact becomes effective and binding upon legislative enactment of the compact into law by two (2) compacting states.
(b) The commission established by this compact becomes effective for purposes of adopting rules and creating the clearinghouse when:
(1) there is a total of ten (10) compacting states and contracting states; or
(2) there are compacting states and contracting states representing more than forty percent (40%) of the total surplus lines insurance premium volume, based on the following apportionment of the total surplus lines insurance premium volume among the states:
Alabama 1.47%
Alaska 0.29%
Arizona 2.18%
Arkansas 0.66%
California 18.49%
Colorado 1.79%
Connecticut 1.08%
Delaware 0.31%
Florida 8.75%
Georgia 2.95%
Hawaii 0.77%
Idaho 0.24%
Illinois 3.34%
Indiana 1.36%
Iowa 0.44%
Kansas 0.53%
Kentucky 0.55%
Louisiana 2.81%
Maine 0.20%
Maryland 1.43%
Massachusetts 2.33%
Michigan 2.31%
Minnesota 1.29%
Mississippi 0.87%
Missouri 1.33%
Montana 0.21% Nebraska 0.30%
Nevada 1.17%
New Hampshire 0.34%
New Jersey 3.58%
New Mexico 0.22%
New York 9.11%
North Carolina 1.69%
North Dakota 0.12%
Ohio 1.12%
Oklahoma 1.05%
Oregon 1.03%
Pennsylvania 2.57%
Rhode Island 0.24%
South Carolina 1.36%
South Dakota 0.13%
Tennessee 1.49%
Texas 10.06%
Utah 0.47%
Vermont 0.14%
Virginia 2.01%
Washington 2.43%
West Virginia 0.43%
Wisconsin 0.82%
Wyoming 0.13%
(c) After the commission becomes effective under subsection (b), the compact becomes effective and binding as to any other compacting state upon the enactment of the compact into law by that state.
(d) The clearinghouse operations and the duty to report clearinghouse transaction data begin on the first January 1 or July 1 following the first anniversary of the commission's effective date under subsection (b).
(e) The commission shall:
(1) set a date for the reporting of clearinghouse transaction data by states that become compacting states after the commission's effective date under subsection (b); and
(2) provide notice of the date set under subdivision (1) to surplus lines licensees and all other interested parties at least ninety (90) days before the date set under subdivision (1).
As added by P.L.111-2011, SEC.1.

IC 27-18-13-3
Compact amendment
Sec. 3. (a) Amendments to this compact may be proposed by the commission for enactment by the compacting states.
(b) An amendment to this compact is not effective and binding upon the commission and the compacting states until all compacting states enact the amendment into law.
As added by P.L.111-2011, SEC.1.
IC 27-18-13-4
Department of insurance authority to take action
Sec. 4. (a) Subject to subsection (b), if this compact does not take effect under section 2(b) of this chapter or becomes ineffective, the Indiana department of insurance has the authority to enter into contracts to implement the requirements of the NRRA.
(b) The Indiana department of insurance shall not enter into a contract under subsection (a) (including a compact or multistate agreement) that is related to reporting, payment, collection, or allocation of fees or taxes on nonadmitted insurance, unless the Indiana department of insurance has done all of the following:
(1) Completed a fiscal analysis of the impact of the contract.
(2) Studied the expected effect of the contract on Indiana's gross receipt of premium tax.
(3) Reviewed whether the contract will create undue administrative burdens on the state of Indiana or surplus lines licensees.
(4) Concluded that entering into the contract:
(A) is in Indiana's financial best interest; and
(B) is consistent with the requirements of the NRRA.
As added by P.L.111-2011, SEC.1.