Indiana Code
Chapter 3. General Powers and Duties of the Department
27-1-3-26. Order to Limit Ordinary Shareholder Dividends

Sec. 26. The department shall establish and follow a practice under which the department issues an order to a domestic insurer to limit the payment of ordinary shareholder dividends by the insurer if the department determines that the surplus of the insurer as regards policyholders:
(1) is not reasonable in relation to the outstanding liabilities of the insurer; and
(2) is not adequate to the financial needs of the insurer.
As added by P.L.130-1994, SEC.5 and P.L.116-1994, SEC.9.

Structure Indiana Code

Indiana Code

Title 27. Insurance

Article 1. Department of Insurance

Chapter 3. General Powers and Duties of the Department

27-1-3-1. Exemption From Individual Liability

27-1-3-2. Conflicts of Interest

27-1-3-3. Seal of Department

27-1-3-4. Business Practices of Insurance Companies

27-1-3-5. Certified Copies of Documents and Commissioner's Certification of Facts as Prima Facie Evidence

27-1-3-6. Repealed

27-1-3-7. Rules and Regulations

27-1-3-8. Repealed

27-1-3-9. Repealed

27-1-3-10. Power to Revoke or Suspend Certificate of Authority

27-1-3-10.5. Disclosure of Information

27-1-3-11. Confidential Information

27-1-3-12. Acceptance of Examination Made by Another State

27-1-3-13. Blanks for Annual Statement; Separate Exhibit

27-1-3-14. Notice of Insolvency, Failure, or Suspension of Operations; Failure to Give Notice

27-1-3-15. Filing Fees; Collection

27-1-3-16. Disposition of Taxes and Fees Accrued

27-1-3-17. Repealed

27-1-3-18. Solicitation for Political Assessments or Contributions; Violations

27-1-3-19. Order to Correct Improper Practices or Remedy Deficiencies; Actions to Compel Compliance

27-1-3-20. Certificate of Authority; Issuance; Necessity; Removal of Unqualified Officers or Directors; Violations; Civil Penalties

27-1-3-21. Execution of Instruments or Documents

27-1-3-22. Fraudulent Insurance Act; Definition; Liability

27-1-3-23. Civil Actions; Substantial Justification

27-1-3-24. Declaration of Dividend Other Than From Earned Surplus; Approval

27-1-3-25. Review of Ordinary Shareholder Dividends to Determine Reasonableness

27-1-3-26. Order to Limit Ordinary Shareholder Dividends

27-1-3-27. Order to Limit or Disallow Payment of Ordinary Shareholder Dividends

27-1-3-28. Department of Insurance Fund; Establishment; Deposits

27-1-3-29. Enforceability of Policies Exceeding Authority of Insurer or Violating Statute or Rule

27-1-3-32. Posting of Life Insurance and Other Financial Information

27-1-3-33. Publication of Grievance Related Information on Internet

27-1-3-34. Proof of Mailing

27-1-3-35. State Innovation Waiver Application