2012 Indiana Code
TITLE 27. INSURANCE
ARTICLE 18. SURPLUS LINES INSURANCE COMPACT
CHAPTER 2. ESTABLISHMENT OF THE COMMISSION AND VENUE
IC 27-18-2Chapter 2. Establishment of the Commission and Venue
IC 27-18-2-1
Creation of surplus lines insurance multistate compliance compact commission
Sec. 1. The compacting states hereby create and establish a joint public agency known as the surplus lines insurance multistate compliance compact commission.
As added by P.L.111-2011, SEC.1.
IC 27-18-2-2
Adoption of rules; home state authority
Sec. 2. The commission may adopt mandatory rules to establish exclusive home state authority regarding nonadmitted insurance of multistate risks, allocation formulas, clearinghouse transaction data, a clearinghouse for receipt and distribution of allocated premium tax and clearinghouse transaction data, and uniform rulemaking procedures and rules to finance, administer, operate, and enforce compliance with this compact and the bylaws and rules.
As added by P.L.111-2011, SEC.1.
IC 27-18-2-3
Adoption of rules; foreign insurer eligibility; policyholder notice
Sec. 3. The commission may adopt mandatory rules establishing foreign insurer eligibility requirements and a concise and objective policyholder notice regarding the nature of a surplus lines insurance placement.
As added by P.L.111-2011, SEC.1.
IC 27-18-2-4
Body corporate and politic
Sec. 4. The commission is a body corporate and politic and an instrumentality of the compacting states.
As added by P.L.111-2011, SEC.1.
IC 27-18-2-5
Responsibility for commission liabilities
Sec. 5. The commission is solely responsible for the commission's liabilities, except as otherwise specifically provided in this compact.
As added by P.L.111-2011, SEC.1.
IC 27-18-2-6
Venue; jurisdiction
Sec. 6. (a) Venue is proper, and judicial proceedings by or against the commission must be brought solely and exclusively, in a court of competent jurisdiction where the principal office of the commission is located.
(b) The commission may waive venue and jurisdictional defenses to the extent the commission adopts or consents to participate in
alternative dispute resolution proceedings.
As added by P.L.111-2011, SEC.1.
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