IC 27-5.1 ARTICLE 5.1. FARM MUTUAL INSURANCE
COMPANIES
IC 27-5.1-1
Chapter 1. Definitions
IC 27-5.1-1-1 Application
Sec. 1. The definitions in this chapter apply throughout this
article. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-2 "Assessment"
Sec. 2. "Assessment" means an amount or a policyholder's share
of an amount that a farm mutual insurance company determines is
necessary for any of the following:
(1) To pay the farm mutual insurance company's accrued
liabilities.
(2) To meet or defray the farm mutual insurance company's
anticipated needs.
(3) To add to or restore the policyholder surplus of the farm
mutual insurance company. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-3 "Certificate of authority"
Sec. 3. "Certificate of authority" has the meaning set forth in
IC 27-1-2-3(v). As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-4 "Commissioner"
Sec. 4. "Commissioner" means the insurance commissioner
appointed under IC 27-1-1-2. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-5 "Department"
Sec. 5. "Department" means the department of insurance created
by IC 27-1-1-1. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-6 "Extended company"
Sec. 6. "Extended company" means a farm mutual insurance
company that is authorized to provide coverage as described in
IC 27-5.1-4. As added by P.L.129-2003, SEC.8. IC 27-5.1-1-7 "Farm mutual insurance company"
Sec. 7. "Farm mutual insurance company" means a company (as
defined in IC 27-1-2-3) that is authorized to provide insurance
coverage under this article. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-8 "First class city"
Sec. 8. "First class city" refers to a first class city as classified
under IC 36-4-1-1. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-9 "Initial charge"
Sec. 9. "Initial charge" means a charge that is collected by a farm
mutual insurance company before or at the time of the issuance or
renewal of an insurance policy under this article. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-10 "Person"
Sec. 10. "Person" means an individual or a business entity. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-11 "Policyholder"
Sec. 11. "Policyholder" means a person who is insured by a farm
mutual insurance company. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-12 "Policyholder surplus"
Sec. 12. "Policyholder surplus" means the accumulated assets of
a farm mutual insurance company that exceed the farm mutual
insurance company's accrued losses and expenses. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-13 "Premium"
Sec. 13. "Premium" means money given in consideration to a farm
mutual insurance company on account of or in connection with an
insurance policy for a specified policy period. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-14 "Premium plus assessment"
Sec. 14. "Premium plus assessment" refers to an insurance policy
under which the policyholder is:
(1) obligated to pay a premium; and
(2) subject to potential assessment. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-15 "Principal office"
Sec. 15. "Principal office" means the primary office maintained
by a farm mutual insurance company in Indiana. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-16 "Standard company"
Sec. 16. "Standard company" means a farm mutual insurance
company that may provide insurance coverage under IC 27-5.1-3.
The term does not include an extended company. As added by P.L.129-2003, SEC.8.
IC 27-5.1 ARTICLE 5.1. FARM MUTUAL INSURANCE
COMPANIES
IC 27-5.1-1
Chapter 1. Definitions
IC 27-5.1-1-1 Application
Sec. 1. The definitions in this chapter apply throughout this
article. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-2 "Assessment"
Sec. 2. "Assessment" means an amount or a policyholder's share
of an amount that a farm mutual insurance company determines is
necessary for any of the following:
(1) To pay the farm mutual insurance company's accrued
liabilities.
(2) To meet or defray the farm mutual insurance company's
anticipated needs.
(3) To add to or restore the policyholder surplus of the farm
mutual insurance company. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-3 "Certificate of authority"
Sec. 3. "Certificate of authority" has the meaning set forth in
IC 27-1-2-3(v). As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-4 "Commissioner"
Sec. 4. "Commissioner" means the insurance commissioner
appointed under IC 27-1-1-2. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-5 "Department"
Sec. 5. "Department" means the department of insurance created
by IC 27-1-1-1. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-6 "Extended company"
Sec. 6. "Extended company" means a farm mutual insurance
company that is authorized to provide coverage as described in
IC 27-5.1-4. As added by P.L.129-2003, SEC.8. IC 27-5.1-1-7 "Farm mutual insurance company"
Sec. 7. "Farm mutual insurance company" means a company (as
defined in IC 27-1-2-3) that is authorized to provide insurance
coverage under this article. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-8 "First class city"
Sec. 8. "First class city" refers to a first class city as classified
under IC 36-4-1-1. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-9 "Initial charge"
Sec. 9. "Initial charge" means a charge that is collected by a farm
mutual insurance company before or at the time of the issuance or
renewal of an insurance policy under this article. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-10 "Person"
Sec. 10. "Person" means an individual or a business entity. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-11 "Policyholder"
Sec. 11. "Policyholder" means a person who is insured by a farm
mutual insurance company. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-12 "Policyholder surplus"
Sec. 12. "Policyholder surplus" means the accumulated assets of
a farm mutual insurance company that exceed the farm mutual
insurance company's accrued losses and expenses. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-13 "Premium"
Sec. 13. "Premium" means money given in consideration to a farm
mutual insurance company on account of or in connection with an
insurance policy for a specified policy period. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-14 "Premium plus assessment"
Sec. 14. "Premium plus assessment" refers to an insurance policy
under which the policyholder is:
(1) obligated to pay a premium; and
(2) subject to potential assessment. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-15 "Principal office"
Sec. 15. "Principal office" means the primary office maintained
by a farm mutual insurance company in Indiana. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-16 "Standard company"
Sec. 16. "Standard company" means a farm mutual insurance
company that may provide insurance coverage under IC 27-5.1-3.
The term does not include an extended company. As added by P.L.129-2003, SEC.8.
IC 27-5.1 ARTICLE 5.1. FARM MUTUAL INSURANCE
COMPANIES
IC 27-5.1-1
Chapter 1. Definitions
IC 27-5.1-1-1 Application
Sec. 1. The definitions in this chapter apply throughout this
article. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-2 "Assessment"
Sec. 2. "Assessment" means an amount or a policyholder's share
of an amount that a farm mutual insurance company determines is
necessary for any of the following:
(1) To pay the farm mutual insurance company's accrued
liabilities.
(2) To meet or defray the farm mutual insurance company's
anticipated needs.
(3) To add to or restore the policyholder surplus of the farm
mutual insurance company. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-3 "Certificate of authority"
Sec. 3. "Certificate of authority" has the meaning set forth in
IC 27-1-2-3(v). As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-4 "Commissioner"
Sec. 4. "Commissioner" means the insurance commissioner
appointed under IC 27-1-1-2. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-5 "Department"
Sec. 5. "Department" means the department of insurance created
by IC 27-1-1-1. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-6 "Extended company"
Sec. 6. "Extended company" means a farm mutual insurance
company that is authorized to provide coverage as described in
IC 27-5.1-4. As added by P.L.129-2003, SEC.8. IC 27-5.1-1-7 "Farm mutual insurance company"
Sec. 7. "Farm mutual insurance company" means a company (as
defined in IC 27-1-2-3) that is authorized to provide insurance
coverage under this article. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-8 "First class city"
Sec. 8. "First class city" refers to a first class city as classified
under IC 36-4-1-1. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-9 "Initial charge"
Sec. 9. "Initial charge" means a charge that is collected by a farm
mutual insurance company before or at the time of the issuance or
renewal of an insurance policy under this article. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-10 "Person"
Sec. 10. "Person" means an individual or a business entity. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-11 "Policyholder"
Sec. 11. "Policyholder" means a person who is insured by a farm
mutual insurance company. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-12 "Policyholder surplus"
Sec. 12. "Policyholder surplus" means the accumulated assets of
a farm mutual insurance company that exceed the farm mutual
insurance company's accrued losses and expenses. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-13 "Premium"
Sec. 13. "Premium" means money given in consideration to a farm
mutual insurance company on account of or in connection with an
insurance policy for a specified policy period. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-14 "Premium plus assessment"
Sec. 14. "Premium plus assessment" refers to an insurance policy
under which the policyholder is:
(1) obligated to pay a premium; and
(2) subject to potential assessment. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-15 "Principal office"
Sec. 15. "Principal office" means the primary office maintained
by a farm mutual insurance company in Indiana. As added by P.L.129-2003, SEC.8.
IC 27-5.1-1-16 "Standard company"
Sec. 16. "Standard company" means a farm mutual insurance
company that may provide insurance coverage under IC 27-5.1-3.
The term does not include an extended company. As added by P.L.129-2003, SEC.8.
