Ind. Code § 27-9-3.1-14
Transfer of amounts with receiver
Indiana · Indiana Code Title 27 — Insurance · Status: effective
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- Ind. Code § 27-9-3.1-14, Transfer of amounts with receiver, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1664575
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Full text
Sec. 14.
(a) Notwithstanding a walkaway clause in a netting agreement or qualified financial contract, upon termination of the netting agreement or qualified financial contract, any net or settlement amount owed by a nondefaulting party to an insurer against which an application or petition has been filed under IC 27-9-3 must be transferred:
(1) to; or
(2) according to the order of;
the receiver for the insurer, regardless of whether the insurer is the defaulting party.
(b) For purposes of subsection (a), a limited two-way payment or first method provision in a netting agreement or qualified financial contract with an insurer that has defaulted is considered to be a full two-way payment or second method provision as against the defaulting insurer.