Sec. 17. Notwithstanding IC 27-9-3 and this chapter, a receiver may not avoid a transfer of money or other property arising in connection with:
(1) a netting agreement or qualified financial contract;
(2) a pledge, security, collateral, reimbursement, guarantee agreement, or similar security agreement; or
(3) an arrangement or credit enhancement relating to a netting agreement or qualified financial contract;
made before the commencement of a formal delinquency proceeding under IC 27-9-3. However, a receiver may avoid a transfer made with actual intent to hinder, delay, or defraud the insurer, the insurer's receiver, or creditors.
As added by P.L.11-2011, SEC.36.
Structure Indiana Code
Article 9. Supervision; Rehabilitation; Liquidation
Chapter 3.1. Treatment of Certain Agreements
27-9-3.1-1. "Actual Direct Compensatory Damages"
27-9-3.1-3. "Commodity Contract"
27-9-3.1-4. "Contractual Right"
27-9-3.1-5. "Forward Contract"
27-9-3.1-6. "Netting Agreement"
27-9-3.1-7. "Qualified Financial Contract"
27-9-3.1-8. "Repurchase Agreement"
27-9-3.1-9. "Securities Contract"
27-9-3.1-11. "Walkaway Clause"
27-9-3.1-14. Transfer of Amounts With Receiver
27-9-3.1-15. Transfers by Receiver
27-9-3.1-16. Notice to Parties of Transfer
27-9-3.1-17. Avoidance of Transfer by Receiver
27-9-3.1-18. Receiver's Right of Disaffirmance or Repudiation
27-9-3.1-19. Claim Arising From Disaffirmance or Repudiation