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2023 Indiana Code
Title 27. Insurance
Article 1. Department of Insurance
Chapter 3. General Powers and Duties of the Department
27-1-3-26. Order to Limit Ordinary Shareholder Dividends
Universal Citation:
IN Code § 27-1-3-26 (2023)
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Sec. 26. The department shall establish and follow a practice under which the department issues an order to a domestic insurer to limit the payment of ordinary shareholder dividends by the insurer if the department determines that the surplus of the insurer as regards policyholders:
(1) is not reasonable in relation to the outstanding liabilities of the insurer; and
(2) is not adequate to the financial needs of the insurer.
As added by P.L.130-1994, SEC.5 and P.L.116-1994, SEC.9.
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