Sec. 6. The issuance of a funding agreement:
(1) constitutes an activity necessary, convenient, or expedient to the business of a life insurance company under IC 27-1-7-2;
(2) is not insurance under IC 27-1-5-1;
(3) is not a security (as defined in IC 23-19-1-2(28)); and
(4) does not constitute gross premium for taxation purposes under IC 27-1-18-2.
As added by P.L.178-2003, SEC.18. Amended by P.L.27-2007, SEC.25.
Structure Indiana Code
Article 1. Department of Insurance
Chapter 12.7. Funding Agreements
27-1-12.7-1. "Funding Agreement"
27-1-12.7-3. "Life Insurance Company"
27-1-12.7-4. "Optional Modes of Settlement"
27-1-12.7-5. Issuance or Issuance for Delivery of Funding Agreements
27-1-12.7-6. Funding Agreements Interpretation
27-1-12.7-7. Guaranteed or Credited Amounts Under Funding Agreements
27-1-12.7-8. Segregated Asset Accounts