Indiana Code
Chapter 3. Mutual Life and Accident─formation
27-8-3-24. Violations; Revocation of Power to Do Business

Sec. 24. An officer or agent of any corporation, association, or society subject to this chapter who fails to comply with this chapter, knowingly makes in any report or statement any false or fraudulent statement, or refuses to permit the insurance commissioner or any examiner duly authorized by him for the purpose to make examination of its condition and business, books, papers, and vouchers commits a Class C infraction. A person who fails to comply with or violates this chapter commits a Class C infraction. If an examination of the condition and business of any such corporation, association, or society transacting business in this state is prevented by an offense under this section, the insurance commissioner shall revoke the certificate of authority issued to such corporation, association, or society, and it is unlawful for it to do business in this state until it has submitted to an examination, and the insurance commissioner has issued to it a new certificate of authority authorizing it to continue business in this state.
Formerly: Acts 1897, c.195, s.24. As amended by Acts 1978, P.L.2, SEC.2727.

Structure Indiana Code