Indiana Code
Chapter 1. Industrial Loan and Investment Act
28-5-1-6.5. Sale of Annuity Contracts

Sec. 6.5. (a) Notwithstanding any other provision of this title, an industrial loan and investment company may act as an insurance producer for the sale of any annuity contract issued by a life insurance company (as defined in IC 27-1-2-3) authorized to do business in Indiana under IC 27-1.
(b) An industrial loan and investment company that acts as an insurance producer for the sale of an annuity contract:
(1) is subject to all requirements of IC 27 relating to the sale and solicitation of insurance, including licensing as an insurance producer under IC 27-1-15.6; and
(2) must comply with the disclosure requirements under IC 27-1-38.
(c) This section does not give power to, or otherwise affect the power of, an industrial loan and investment company to act as an insurance producer for the sale of life insurance other than an annuity contract.
As added by P.L.262-1995, SEC.65. Amended by P.L.132-2001, SEC.20; P.L.130-2002, SEC.6; P.L.178-2003, SEC.91.

Structure Indiana Code

Indiana Code

Title 28. Financial Institutions

Article 5. Industrial Loan and Investment Companies

Chapter 1. Industrial Loan and Investment Act

28-5-1-1. Citation

28-5-1-2. Application of Chapter

28-5-1-3. Definitions; Department's Powers

28-5-1-4. Definitions; Certificate of Authority; Branches; Automated Teller Machines

28-5-1-5. Capital Requirements

28-5-1-6. Corporate Powers

28-5-1-6.3. Request to Exercise Rights and Privileges Granted to National Banks; Appeal

28-5-1-6.5. Sale of Annuity Contracts

28-5-1-7. Repealed

28-5-1-8. Limitation of Total Obligation of Single Borrower; Exceptions; Loans to Officers, Agents, and Employees; Violation; Offense; Credit Exposure From Derivative Transactions

28-5-1-9. Mortgage Loans

28-5-1-10. Time for Existing Companies to Comply With Loan Limits

28-5-1-11. Acquisition or Conveyance of Real Estate; Purposes

28-5-1-12. Certificates of Indebtedness or Investment; Form; Payment; Withdrawals

28-5-1-13. Certificates of Indebtedness or Investment; Reserve Balance

28-5-1-14. Surplus Account; Dividends

28-5-1-15. Authority of Department; Examination of Affiliates; Examination of Vendors

28-5-1-16. Records Retention Policy

28-5-1-17. Rules and Regulations

28-5-1-18. Fidelity Coverage for Officers and Employees; Bonds; Reserve Funds

28-5-1-19. Exclusion From Banking Business; False Advertising; Desist Orders

28-5-1-20. Repealed

28-5-1-21. Elimination of Certificates of Indebtedness or Certificates of Investment, Deposits, or Savings Accounts

28-5-1-22. Violations

28-5-1-22.1. Prohibited Transactions

28-5-1-23. Taxation

28-5-1-24. Repealed

28-5-1-25. Conversion Into State Bank, Trust Company, or Savings Association

28-5-1-26. Requirement to Provide Property Tax Information in Certain Transactions