Ind. Code § 27-1-20-11
Discontinuance of business; procedure for return of deposited securities
Indiana · Indiana Code Title 27 — Insurance · Status: effective
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- Citation
- Ind. Code § 27-1-20-11, Discontinuance of business; procedure for return of deposited securities, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1661952
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Full text
Sec. 11. When any company determines to discontinue its business and ceases to do business in this state and desires to withdraw its deposit made in this state pursuant to this article, the department shall upon the application of the company and at the expense of the company give notice of such intention in a newspaper of general circulation in the state once a week for a period of four (4) weeks. After such publication it shall deliver to such company or its assigns the securities so deposited when it is satisfied upon examination and investigation made by it or under its authority and upon the oaths of the president or a vice president and the secretary or an assistant secretary of the company that all debts and liabilities of every kind due and to become due which the deposit was made to secure are paid and extinguished.