IC 27-1-1-1 Creation; functions
Sec. 1. There is hereby created a department in the state
government of the state of Indiana which shall be known as the
department of insurance. Said department shall have charge of the
organization, supervision, regulation, examination, rehabilitation,
liquidation, and/or conservation of all insurance companies to which
this title is applicable, shall have charge of the enforcement,
administration, and execution of the provisions of this title and the
provisions of any other statute applicable to insurance companies, to
the insurance department, or to the insurance commissioner, and
shall exercise such other powers and perform such other duties as
may at any time be imposed or conferred on the department by law.
Wherever by any of the provisions of any statute any right, power, or
duty is imposed or conferred on the department, the right, power, or
duty so imposed or conferred shall be possessed and exercised by the
insurance commissioner, unless otherwise provided in that statute, or
unless any such right, power, or duty is delegated to the duly
appointed deputies, assistants, or employees of the department, or
any of them, by an appropriate rule or order of the insurance
commissioner. (Formerly: Acts 1945, c.351, s.1.) As amended by P.L.252-1985,
SEC.1.
IC 27-1-1-2 Insurance commissioner
Sec. 2. The powers, duties, management and control of the
department of insurance are hereby conferred on and vested in the
"insurance commissioner." The insurance commissioner shall be
appointed by the governor, and shall be familiar with and known to
possess a knowledge of the subject of insurance and be skilled in
matters pertaining thereto and shall be chosen solely for fitness,
irrespective of his political beliefs or affiliations. The commissioner
shall serve and may be removed at the pleasure of the governor, and
shall be the chief executive and administrative officer of the
department. The insurance commissioner shall receive an annual
salary of eleven thousand five hundred dollars ($11,500), which shall
be in full of all services performed by him in any capacity. The
commissioner shall take an oath of office and give bond in the sum
of fifty thousand dollars ($50,000) with surety to be approved by the
governor for the faithful performance of his duties.
The commissioner is authorized to attend and participate in the
meetings of the national convention of insurance commissioners and
of the committees thereof, and he may require such of his deputies,
actuaries and assistants as he may designate to attend and participate
in such meetings. If he deems it advisable he may request the
attorney-general or a deputy attorney-general to attend and
participate in such meetings with him. He and his deputies, actuaries,
assistants and attorneys as aforesaid shall aid in promoting
improvements in the insurance laws and the uniformity thereof in the
several states. The expense of such attendance by the commissioner,
and his deputies, actuaries, assistants and attorneys as aforesaid shall
be paid by the state treasurer upon the warrant of the commissioner
certifying therein that he has examined and approved the charges for
such expenses. (Formerly: Acts 1945, c.351, s.2; Acts 1959, c.351, s.1.)
IC 27-1-1-3 Personnel
Sec. 3. The commissioner, with the approval of the governor shall
appoint a chief deputy, an actuary, a securities deputy, and such other
deputies, examiners, assistants and other employees as may be
necessary to carry on the work of the department. With respect to all
of such positions, aptitude, previous training and experience,
intelligence and moral and physical qualifications shall be carefully
considered and such employees shall be chosen for their fitness,
either professional or practical, as the nature of the position may
require, irrespective of their political beliefs or affiliations; it being
the responsibility of the commissioner to develop and maintain a
highly trained and effective personnel within the insurance
department. The actuary of the department shall have had at least
five (5) years experience in a responsible actuarial position in a life
or casualty insurance company, in consulting actuarial practice, or in
a comparable actuarial position in a state or federal agency; however,
only two (2) years experience of the type aforesaid shall be required
(a) if the applicant is a fellow or associate of the society of actuaries
or the casualty actuarial society, or (b) if said applicant has
completed courses in actuarial mathematics or theory in an
accredited college or university. The technical or professional
qualifications of any applicant shall be determined by examination,
professional rating or otherwise, as the commissioner, with the
approval of the governor, shall determine. The securities deputy and
any securities clerk shall each give bond in the sum fixed by the
governor, but not less than twenty-five thousand dollars ($25,000)
surety with the approval of the governor, for the faithful performance
of their duties. (Formerly: Acts 1945, c.351, s.3; Acts 1959, c.351, s.2.)
IC 27-1-1-4 Compensation of personnel; grounds for dismissal
Sec. 4. The annual salaries of personnel of the department, other
than the commissioner, shall be fixed by the commissioner with
approval of the governor and budget agency. The commissioner shall
have the power at any time to terminate the services of any employee
of the department for inefficiency, incompetency or neglect of or
failure to perform his duties. (Formerly: Acts 1945, c.351, s.4; Acts 1959, c.351, s.3; Acts
1963(ss), c.8, s.1.)
IC 27-1-1-5
Repealed
(Repealed by P.L.4-1988, SEC.17.)
IC 27-1-1-1 Creation; functions
Sec. 1. There is hereby created a department in the state
government of the state of Indiana which shall be known as the
department of insurance. Said department shall have charge of the
organization, supervision, regulation, examination, rehabilitation,
liquidation, and/or conservation of all insurance companies to which
this title is applicable, shall have charge of the enforcement,
administration, and execution of the provisions of this title and the
provisions of any other statute applicable to insurance companies, to
the insurance department, or to the insurance commissioner, and
shall exercise such other powers and perform such other duties as
may at any time be imposed or conferred on the department by law.
Wherever by any of the provisions of any statute any right, power, or
duty is imposed or conferred on the department, the right, power, or
duty so imposed or conferred shall be possessed and exercised by the
insurance commissioner, unless otherwise provided in that statute, or
unless any such right, power, or duty is delegated to the duly
appointed deputies, assistants, or employees of the department, or
any of them, by an appropriate rule or order of the insurance
commissioner. (Formerly: Acts 1945, c.351, s.1.) As amended by P.L.252-1985,
SEC.1.
IC 27-1-1-2 Insurance commissioner
Sec. 2. The powers, duties, management and control of the
department of insurance are hereby conferred on and vested in the
"insurance commissioner." The insurance commissioner shall be
appointed by the governor, and shall be familiar with and known to
possess a knowledge of the subject of insurance and be skilled in
matters pertaining thereto and shall be chosen solely for fitness,
irrespective of his political beliefs or affiliations. The commissioner
shall serve and may be removed at the pleasure of the governor, and
shall be the chief executive and administrative officer of the
department. The insurance commissioner shall receive an annual
salary of eleven thousand five hundred dollars ($11,500), which shall
be in full of all services performed by him in any capacity. The
commissioner shall take an oath of office and give bond in the sum
of fifty thousand dollars ($50,000) with surety to be approved by the
governor for the faithful performance of his duties.
The commissioner is authorized to attend and participate in the
meetings of the national convention of insurance commissioners and
of the committees thereof, and he may require such of his deputies,
actuaries and assistants as he may designate to attend and participate
in such meetings. If he deems it advisable he may request the
attorney-general or a deputy attorney-general to attend and
participate in such meetings with him. He and his deputies, actuaries,
assistants and attorneys as aforesaid shall aid in promoting
improvements in the insurance laws and the uniformity thereof in the
several states. The expense of such attendance by the commissioner,
and his deputies, actuaries, assistants and attorneys as aforesaid shall
be paid by the state treasurer upon the warrant of the commissioner
certifying therein that he has examined and approved the charges for
such expenses. (Formerly: Acts 1945, c.351, s.2; Acts 1959, c.351, s.1.)
IC 27-1-1-3 Personnel
Sec. 3. The commissioner, with the approval of the governor shall
appoint a chief deputy, an actuary, a securities deputy, and such other
deputies, examiners, assistants and other employees as may be
necessary to carry on the work of the department. With respect to all
of such positions, aptitude, previous training and experience,
intelligence and moral and physical qualifications shall be carefully
considered and such employees shall be chosen for their fitness,
either professional or practical, as the nature of the position may
require, irrespective of their political beliefs or affiliations; it being
the responsibility of the commissioner to develop and maintain a
highly trained and effective personnel within the insurance
department. The actuary of the department shall have had at least
five (5) years experience in a responsible actuarial position in a life
or casualty insurance company, in consulting actuarial practice, or in
a comparable actuarial position in a state or federal agency; however,
only two (2) years experience of the type aforesaid shall be required
(a) if the applicant is a fellow or associate of the society of actuaries
or the casualty actuarial society, or (b) if said applicant has
completed courses in actuarial mathematics or theory in an
accredited college or university. The technical or professional
qualifications of any applicant shall be determined by examination,
professional rating or otherwise, as the commissioner, with the
approval of the governor, shall determine. The securities deputy and
any securities clerk shall each give bond in the sum fixed by the
governor, but not less than twenty-five thousand dollars ($25,000)
surety with the approval of the governor, for the faithful performance
of their duties. (Formerly: Acts 1945, c.351, s.3; Acts 1959, c.351, s.2.)
IC 27-1-1-4 Compensation of personnel; grounds for dismissal
Sec. 4. The annual salaries of personnel of the department, other
than the commissioner, shall be fixed by the commissioner with
approval of the governor and budget agency. The commissioner shall
have the power at any time to terminate the services of any employee
of the department for inefficiency, incompetency or neglect of or
failure to perform his duties. (Formerly: Acts 1945, c.351, s.4; Acts 1959, c.351, s.3; Acts
1963(ss), c.8, s.1.)
IC 27-1-1-5
Repealed
(Repealed by P.L.4-1988, SEC.17.)
IC 27-1-1-1 Creation; functions
Sec. 1. There is hereby created a department in the state
government of the state of Indiana which shall be known as the
department of insurance. Said department shall have charge of the
organization, supervision, regulation, examination, rehabilitation,
liquidation, and/or conservation of all insurance companies to which
this title is applicable, shall have charge of the enforcement,
administration, and execution of the provisions of this title and the
provisions of any other statute applicable to insurance companies, to
the insurance department, or to the insurance commissioner, and
shall exercise such other powers and perform such other duties as
may at any time be imposed or conferred on the department by law.
Wherever by any of the provisions of any statute any right, power, or
duty is imposed or conferred on the department, the right, power, or
duty so imposed or conferred shall be possessed and exercised by the
insurance commissioner, unless otherwise provided in that statute, or
unless any such right, power, or duty is delegated to the duly
appointed deputies, assistants, or employees of the department, or
any of them, by an appropriate rule or order of the insurance
commissioner. (Formerly: Acts 1945, c.351, s.1.) As amended by P.L.252-1985,
SEC.1.
IC 27-1-1-2 Insurance commissioner
Sec. 2. The powers, duties, management and control of the
department of insurance are hereby conferred on and vested in the
"insurance commissioner." The insurance commissioner shall be
appointed by the governor, and shall be familiar with and known to
possess a knowledge of the subject of insurance and be skilled in
matters pertaining thereto and shall be chosen solely for fitness,
irrespective of his political beliefs or affiliations. The commissioner
shall serve and may be removed at the pleasure of the governor, and
shall be the chief executive and administrative officer of the
department. The insurance commissioner shall receive an annual
salary of eleven thousand five hundred dollars ($11,500), which shall
be in full of all services performed by him in any capacity. The
commissioner shall take an oath of office and give bond in the sum
of fifty thousand dollars ($50,000) with surety to be approved by the
governor for the faithful performance of his duties.
The commissioner is authorized to attend and participate in the
meetings of the national convention of insurance commissioners and
of the committees thereof, and he may require such of his deputies,
actuaries and assistants as he may designate to attend and participate
in such meetings. If he deems it advisable he may request the
attorney-general or a deputy attorney-general to attend and
participate in such meetings with him. He and his deputies, actuaries,
assistants and attorneys as aforesaid shall aid in promoting
improvements in the insurance laws and the uniformity thereof in the
several states. The expense of such attendance by the commissioner,
and his deputies, actuaries, assistants and attorneys as aforesaid shall
be paid by the state treasurer upon the warrant of the commissioner
certifying therein that he has examined and approved the charges for
such expenses. (Formerly: Acts 1945, c.351, s.2; Acts 1959, c.351, s.1.)
IC 27-1-1-3 Personnel
Sec. 3. The commissioner, with the approval of the governor shall
appoint a chief deputy, an actuary, a securities deputy, and such other
deputies, examiners, assistants and other employees as may be
necessary to carry on the work of the department. With respect to all
of such positions, aptitude, previous training and experience,
intelligence and moral and physical qualifications shall be carefully
considered and such employees shall be chosen for their fitness,
either professional or practical, as the nature of the position may
require, irrespective of their political beliefs or affiliations; it being
the responsibility of the commissioner to develop and maintain a
highly trained and effective personnel within the insurance
department. The actuary of the department shall have had at least
five (5) years experience in a responsible actuarial position in a life
or casualty insurance company, in consulting actuarial practice, or in
a comparable actuarial position in a state or federal agency; however,
only two (2) years experience of the type aforesaid shall be required
(a) if the applicant is a fellow or associate of the society of actuaries
or the casualty actuarial society, or (b) if said applicant has
completed courses in actuarial mathematics or theory in an
accredited college or university. The technical or professional
qualifications of any applicant shall be determined by examination,
professional rating or otherwise, as the commissioner, with the
approval of the governor, shall determine. The securities deputy and
any securities clerk shall each give bond in the sum fixed by the
governor, but not less than twenty-five thousand dollars ($25,000)
surety with the approval of the governor, for the faithful performance
of their duties. (Formerly: Acts 1945, c.351, s.3; Acts 1959, c.351, s.2.)
IC 27-1-1-4 Compensation of personnel; grounds for dismissal
Sec. 4. The annual salaries of personnel of the department, other
than the commissioner, shall be fixed by the commissioner with
approval of the governor and budget agency. The commissioner shall
have the power at any time to terminate the services of any employee
of the department for inefficiency, incompetency or neglect of or
failure to perform his duties. (Formerly: Acts 1945, c.351, s.4; Acts 1959, c.351, s.3; Acts
1963(ss), c.8, s.1.)
IC 27-1-1-5
Repealed
(Repealed by P.L.4-1988, SEC.17.)
