Sec. 33. (a) Proof of all claims must be filed with the liquidator in the form required by section 34 of this chapter on or before the last day for filing specified in the notice required by section 10 of this chapter, except that proof of claims for cash surrender values or other investment values in life insurance and annuities need not be filed unless the liquidator expressly requires it.
(b) The liquidator may permit a claimant making a late filing to share in distributions, whether past or future, as if he were not late, to the extent that any late payment will not prejudice the orderly administration of the liquidation, when:
(1) the existence of the claim was not known to the claimant but that after learning of it he filed his claim as promptly as is reasonably possible;
(2) a transfer to a creditor was avoided under sections 14 through 16 of this chapter, or was voluntarily surrendered under section 27 of this chapter and that the filing satisfies the conditions of section 27 of this chapter; and
(3) the valuation under section 39 of this chapter, of security held by a secured creditor shows a deficiency, which is filed within thirty (30) days after the valuation.
(c) The liquidator shall permit late filing claims to share in distributions, whether past or future, as if they were not late, if those claims are claims of a guaranty association or foreign guaranty association for reimbursement of covered claims paid or expenses after the last day for filing where the payments were made and expenses incurred as provided by law.
(d) The liquidator may consider any claim filed late that is not covered by subsection (b), and permit it to receive distributions that are subsequently declared on any claims of the same or lower priority if the payment does not prejudice the orderly administration of the liquidation. The late-filing claimant shall receive, at each distribution, the same percentage of the amount allowed on his claim as is then being paid to claimants of any lower priority. This shall continue until his claim has been paid in full.
As added by Acts 1979, P.L.255, SEC.1.
Structure Indiana Code
Article 9. Supervision; Rehabilitation; Liquidation
27-9-3-0.1. Application of Certain Amendments to Chapter
27-9-3-1. Petition to Rehabilitate Insurer
27-9-3-2. Order to Rehabilitate Insurer
27-9-3-3. Rehabilitator; Personnel; Term; Compensation; Powers; Plan
27-9-3-4. Pending Actions; Protection of Insurer After Rehabilitation Order
27-9-3-5. Petition for Liquidation; Termination of Rehabilitation
27-9-3-6. Basis for Liquidation
27-9-3-7. Order to Liquidate; Content; Effect; Declaration of Insolvency; Accounting
27-9-3-8. Termination of Insurance Coverage
27-9-3-9. Dissolution of Corporate Existence; Authorized Acts of Liquidator
27-9-3-10. Notice of Liquidation by Liquidator
27-9-3-11. Notice of Liquidation by Insurance Producers to Policyholders
27-9-3-12. Actions After Liquidation Orders
27-9-3-14. Transfers Made or Obligations Incurred as Fraudulent
27-9-3-15. Transfers After Petition; Validity
27-9-3-17. Transfers; Time Perfected
27-9-3-19. Transfers on Account of New and Contemporaneous Consideration
27-9-3-20. Liens Dissolved by Furnishing Bond; Effect of Voidable Lien
27-9-3-21. Discharge From Voidable Lien
27-9-3-22. Jurisdiction of Marion County Circuit Court Under This Chapter
27-9-3-23. Discharge of Surety Under Releasing Bond
27-9-3-24. Extension of Unsecured Credit by Preferred Creditor
27-9-3-25. Payment to Attorney for Services
27-9-3-26. Personal Liability Relating to Improper Preferences
27-9-3-27. Claims by Creditors Holding Voidable Preferences
27-9-3-28. Setoff of Mutual Debts or Credits
27-9-3-29. Liquidator's Report; Assessment of Members
27-9-3-30.1. Reinsurance; Method of Payment Upon Liquidation
27-9-3-31. Liability for Payment of Premiums by Insured and Person Other Than Insured; Penalties
27-9-3-32. Proposal to Disburse Assets
27-9-3-33. Filing Proof of Claims
27-9-3-34. Content of Proof of Claim
27-9-3-34.5. Administration of Large Deductible Worker's Compensation Policy
27-9-3-35. Claims Subject to Contingencies
27-9-3-36. Claims by Insured or by Third Party
27-9-3-37. Denial of Claim; Objections; Hearing
27-9-3-38. Claims in Name of Secured Creditors
27-9-3-39. Valuation of Security Held by Secured Creditor
27-9-3-40. Priority of Distribution of Claims
27-9-3-40.5. Segregated Investment Accounts
27-9-3-41. Settlement of Claims; Report of Unresolved Claims; Action of Court on Report
27-9-3-42. Payment of Distributions
27-9-3-43. Deposit of Unclaimed Funds
27-9-3-44. Discharge of Liquidator
27-9-3-45. Reopening of Proceedings
27-9-3-46. Destruction of Records
27-9-3-47. Audit of Books of Commissioner Relating to Receivership