Indiana Code
Chapter 23. Regulation of Insurance Holding Company Systems
27-1-23-10. Seizure of Property of Domestic Insurer

Sec. 10. Whenever it appears to the commissioner that any person has committed a violation of this chapter which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders or the public, the commissioner may proceed as provided in the insurance laws of this state to take possession of the property of such domestic insurer and to conduct the business thereof. A determination made under this section must be accompanied by specific findings of fact and conclusions of law.
Formerly: Acts 1971, P.L.387, SEC.1. As amended by Acts 1981, P.L.244, SEC.9; P.L.26-1991, SEC.16.

Structure Indiana Code

Indiana Code

Title 27. Insurance

Article 1. Department of Insurance

Chapter 23. Regulation of Insurance Holding Company Systems

27-1-23-1. Definitions

27-1-23-1.5. Dividend Payments; Notice; Content

27-1-23-2. Acquisition of Domestic Insurance Company; Statement to Commissioner; Hearings; Notice; Approval; Exceptions; Process

27-1-23-2.5. Acquisitions in Which There Is a Change in Control of an Insurer; Pre-Acquisition Notification; Waiting Period; Competitive Standards; Violations; Order; Penalties

27-1-23-2.6. Primary and Subsidiary Companies

27-1-23-3. Registration Statement; Amendments; Termination; Disclaimer of Affiliation; Enterprise Risk Reports; Civil Penalty

27-1-23-4. Material Transactions; Standards; Prohibitions; Review; Notice; Financial Status; Extraordinary Dividends; Civil Penalty

27-1-23-5. Examination of Registered Insurer Records; Liability for Expenses; Noncompliance

27-1-23-5.1. Supervisory College

27-1-23-5.3. Internationally Active Insurance Group; Group Wide Supervisor

27-1-23-6. Confidential and Privileged Information; Sharing of Information; Requirements

27-1-23-7. Rules and Orders

27-1-23-8. Enjoining Violations; Seizure or Sequestration of Securities

27-1-23-8.1. Violations; Penalties

27-1-23-9. Repealed

27-1-23-10. Seizure of Property of Domestic Insurer

27-1-23-10.5. Receiver's Right to Recover Upon Liquidation or Rehabilitation

27-1-23-11. Denial, Suspension, or Revocation of License or Authority to Do Business

27-1-23-12. Review of Actions of Commissioner; Stay; Mandamus

27-1-23-13. Application of Chapter