CHAPTER 8. FOREIGN PLATE GLASS INSURERS

IC 27-4-8
    Chapter 8. Foreign Plate Glass Insurers

IC 27-4-8-1
Capital requirements
    Sec. 1. Any person or persons, or any copartnership, company, orcorporation organized under the laws of any other state than thisstate, or any foreign country, and engaged in the business of insuringplate glass, shall be allowed and permitted to do and transact suchbusiness in this state when such company is possessed of at least onehundred thousand dollars ($100,000) of actual capital invested in thestock or bonds of some one (1) or more of the states of this Union orof the United States, or the bonds of some one (1) or more of thecounties, cities, or towns of this state at the current value thereof, andwhen such company and its agents shall have fully complied with allthe provisions and requirements of the laws of this state regulatingforeign insurance companies, except so much thereof as requires acapital of two hundred thousand dollars ($200,000); provided, thatcompanies engaged in insuring plate glass and having less than twohundred thousand dollars ($200,000) capital invested as required inthis chapter shall not engage in or transact any other kind ofbusiness; provided, that whenever it shall appear to the insurancecommissioner that any such company, having one hundred thousanddollars ($100,000) capital, shall have been, directly or indirectly,doing business in this state prior to March 9, 1889, he shall not issuelicense to such company, or authorize it to do business in this state,until it shall have paid all taxes, fees, and penalties which shouldhave been chargeable to it had it, during such time, been authorizedto do business in this state, and not violated any of the lawsgoverning foreign insurance companies.
(Formerly: Acts 1889, c.199, s.1.) As amended by P.L.252-1985,SEC.179.