Indiana Code
Chapter 20. Additional Provisions Pertaining to All Insurance Companies
27-1-20-15. Automatic Revocation of Authority for Failure to Timely Complete Organization

Sec. 15. If any company, whether organized under the provisions of this article or of any statute enacted prior to March 8, 1935, for the purpose of making any kind or kinds of insurance, does not complete its organization and proceed with the transaction of business, pursuant to the provisions of the statute under which it is organized, within a period of one (1) year after its articles of incorporation or its organization shall have been approved and filed in the office of the secretary of state, the approval so given shall be deemed to be revoked and such articles of incorporation or such organization shall be null and void.
Formerly: Acts 1935, c.162, s.264. As amended by P.L.252-1985, SEC.92.

Structure Indiana Code

Indiana Code

Title 27. Insurance

Article 1. Department of Insurance

Chapter 20. Additional Provisions Pertaining to All Insurance Companies

27-1-20-1. Insurance of Deposited Securities

27-1-20-2. Repealed

27-1-20-3. Eligibility of Investments for Deposit; Existing Investments

27-1-20-4. Revaluation of Investments Omitting Interest or Dividends

27-1-20-5. Deposit of Securities Acquired From Foreign Life Insurer Under Reinsurance Agreement

27-1-20-6. Transfer of Defaulted Deposited Securities to Other Depository Under Financial Reorganization Agreement; Filing Receipt; Effect on Deposit Credit

27-1-20-7. Withdrawal From Deposit to Pledge for Loan; Effect; Redeposit

27-1-20-8. Deposits as a Condition of Doing Business; Definitions; Securities; Bank Deposits With Restricted Withdrawal Privileges

27-1-20-9. Substitution of Securities on Deposit; Withdrawal of Securities in Excess of Requirements

27-1-20-10. Disposition of Interest Earned by Securities on Deposit

27-1-20-11. Discontinuance of Business; Procedure for Return of Deposited Securities

27-1-20-12. Retaliatory Provisions

27-1-20-13. Fees of Secretary of State

27-1-20-14. Pension Plan for Officers and Employees

27-1-20-15. Automatic Revocation of Authority for Failure to Timely Complete Organization

27-1-20-16. Repealed

27-1-20-17. Repealed

27-1-20-18. Repealed

27-1-20-19. Misrepresentation of Funds Available to Pay Losses or Policy Claims

27-1-20-20. Financial Statement; Requirements; Violations; Penalties

27-1-20-21. Annual Financial Statement; Microfilm Copies

27-1-20-21.1. Repealed

27-1-20-21.2. Civil Penalty; Failure to Comply With Ic 27-1-20-21

27-1-20-21.3. Actuarial Opinions

27-1-20-22. Verification of Accounts and Reports

27-1-20-23. Remedies of Receivership Exclusive With Department; Exception in Favor of Judgment Creditor

27-1-20-24. Repealed

27-1-20-25. Organization of New Companies on Lloyds or Assessment Plan Prohibited; Surplus Requirement for Reciprocal Plan

27-1-20-26. Exemption From Article of a Farm Mutual Insurance Company

27-1-20-27. Exemption of Domestic Mutual Fire Insurance Companies

27-1-20-28. Repealed

27-1-20-29. Exemption of Abstract and Title Insurance Companies

27-1-20-30. Rebate of Premium or Commission; Unfair Competition

27-1-20-31. Restrictions on Interlocking Directorates

27-1-20-32. Effect of Captions

27-1-20-33. Annual Statement Blank, Additional Filings and Quarterly Statements; Filings With Naic

27-1-20-34. Repealed

27-1-20-35. Insurer Response to Department Request

27-1-20-36. Health Insurer Withdrawal From Individual Market