Sec. 13. This chapter shall not be construed to limit the accumulation of a reserve or emergency fund by any corporation, association, or society subject to the provisions of this chapter. Any such corporation, association, or society may, in its discretion, through its officers or directors, deposit with the insurance commissioner such securities and for such amounts as may be approved by him, and, when so deposited, shall be retained by him for the purposes described in this chapter. All other investments of reserve funds shall be made in the same class of securities as are allowed by law for the investment of funds by insurance corporations.
Formerly: Acts 1897, c.195, s.13. As amended by P.L.252-1985, SEC.285.
Structure Indiana Code
Article 8. Life, Accident, and Health
Chapter 3. Mutual Life and Accident─formation
27-8-3-3. Directors, Trustees, or Managers
27-8-3-4. Determination of Fee Rates and Amount of Premiums, Assessments, or Periodical Calls; Risks
27-8-3-5. Reincorporation of Domestic Assessment Plan Companies; Exceptions
27-8-3-6. Application of Chapter to Assessment Plan Companies; Exceptions
27-8-3-7. Accumulation of Reserve or Emergency Fund; Investment; Additional Funds; Use of Excess
27-8-3-8. Assignment of Policy to Person Without Insurable Interest Void
27-8-3-9. Annual Report; Failure to File Report and Pay Fees; Suspension From Doing Business
27-8-3-10. Accident Insurance Business on Assessment Plan
27-8-3-11. Reserve Emergency Fund
27-8-3-12. Report of Affairs and Operations; Suspension for Failure to File
27-8-3-13. Authority to Deposit Securities; Investment of Reserve Funds
27-8-3-16. Examination at Request of Corporation; Certificate of Results; Expense
27-8-3-18. Attorney General; Exclusive Power to Apply for Accounting, Injunction, or Receivership
27-8-3-20. Foreign Corporations; Service of Process
27-8-3-21. Fraudulent Representations; Offenses
27-8-3-22. Eligible Beneficiaries; Change of Beneficiary
27-8-3-23. Exemption of Benefits and Premiums From Judicial Process
27-8-3-24. Violations; Revocation of Power to Do Business
27-8-3-26. Exempt Organizations
27-8-3-27. Legal Reserves; Compulsory Deposits; Filing of Forms; Exceptions