Indiana Code
Chapter 13. Casualty, Fire, and Marine Insurance Company Powers and Policy Requirements
27-1-13-5. Insured Loans and Investments

Sec. 5. (a) Subject to such rules as the department finds to be necessary and proper, any insurance company other than one organized as a life insurance company organized under the provisions of this article or any other law of this state and authorized to make any or all of the kinds of insurance described in Class 2 or Class 3 of IC 27-1-5-1 shall have the following powers:
(1) To make such loans and advances of credit and purchase of obligations representing loans and advances of credit as are eligible for insurance by the federal housing administrator, and to obtain such insurance.
(2) To make such loans secured by mortgages on real property or leasehold, as the federal housing administrator insures or makes a commitment to insure, and to obtain such insurance.
(3) To purchase, invest its capital and other funds in, and dispose of, notes or bonds secured by deed of trusts or mortgage insured by the federal housing administrator or debentures issued by the federal housing administrator, or bonds or other securities issued by national mortgage associations.
(b) No law of this state prescribing the nature, amount, or form of security or requiring security upon which loans or advances of credits may be made, or prescribing or limiting interest rates upon loans or advances of credit, or prescribing or limiting the period for which loans or advances of credit may be made shall be deemed to apply to loans, advances of credit, or purchases made pursuant to subsections (a)(1) and (a)(2).
(c) Any rule made and promulgated under and pursuant to this section may apply to one (1) or more of the insurance companies to which this section is applicable.
Formerly: Acts 1935, c.162, s.173; Acts 1937, c.288, s.4. As amended by P.L.252-1985, SEC.68.

Structure Indiana Code

Indiana Code

Title 27. Insurance

Article 1. Department of Insurance

Chapter 13. Casualty, Fire, and Marine Insurance Company Powers and Policy Requirements

27-1-13-0.1. Application of Certain Amendments to Chapter

27-1-13-1. Particular Rights, Privileges, and Powers of Casualty, Fire, or Marine Insurers; Exceptions

27-1-13-2. Repealed

27-1-13-3. Investment of Capital and Funds Above Capital; Real Estate Interests

27-1-13-3.5. Intangible Assets Attributable to Investment in Subsidiary; Amount as Percentage of Capital and Surplus

27-1-13-4. Valuation of Bonds and Securities

27-1-13-5. Insured Loans and Investments

27-1-13-6. Limitation on Risks; Effect of Reinsurance

27-1-13-7. Policy Requirements

27-1-13-7.5. Newly Acquired Motor Vehicle; Required Coverage

27-1-13-8. Estimating Condition; Classification of Items as Assets or Liabilities; Reserves

27-1-13-8.5. Rules to Prescribe Minimum Standards for Establishment of Reserves

27-1-13-9. Trading or Dealing in Commodities, Goods, Wares, and Merchandise

27-1-13-10. Insurance Rating Bureaus; Organizational Regulations

27-1-13-11. Insurance Rating Bureaus; Meetings; Appearance by Aggrieved Persons

27-1-13-12. Insurance Rating Bureau; Division of Representation

27-1-13-13. Repealed

27-1-13-14. Casualty and Liability Insurance; Qualified Public Transportation Agency; Group Coverage for Functions

27-1-13-15. Property and Casualty Insurance Blanket Policies for Planned Unit Development Owners Association or Corporation

27-1-13-16. Notice of Residential Policy Changes

27-1-13-17. Residential Policy Restrictions