Ind. Code § 27-8-2-2
Failure to pay amount specified; proceedings to close business
Indiana · Indiana Code Title 27 — Insurance · Status: effective
Cite this
- Citation
- Ind. Code § 27-8-2-2, Failure to pay amount specified; proceedings to close business, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1663743
- Permanent ID
ys:prov:1663743@1- SHA-256
2cbe7a8908c79e94dc1920b703fc0198294e0096f68f705e1a0eddc5c0c1ab0f
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
Sec. 2. Failure to pay the amount, whether in friendly settlement or by judgment of court, within thirty (30) days of its adjudication, shall constitute a forfeiture of the right of the delinquent corporation to further continue in business in this state, in the case of an insurance corporation of another state, and in the case of an insurance corporation of this state, it shall be the duty of the insurance commissioner to report the facts to the attorney general, who shall immediately bring suit to close up the business of the delinquent corporation. Nothing in this chapter shall be construed as affecting any organization doing business under IC 27-11.