Skip to main content
Find a Lawyer

Indiana Code Title 27. Insurance § 27-1-15.8-1

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 1. (a) Except as provided in this section, the definitions in IC 27-1-15.6-2 apply throughout this chapter.

(b) As used in this chapter, “affiliate” means, with respect to an insured, an entity that controls, is controlled by, or is under common control with the insured.

(c) As used in this chapter, “affiliated group” means a group of affiliates.

(d) As used in this chapter, “control” means:

(1) ownership or power to vote at least twenty-five percent (25%) of any class of voting securities;  or

(2) power to determine the election of a majority of the directors or trustees;

of an entity.

(e) As used in this chapter, “home state” means the following:

(1) With respect to an insured:

(A) the state in which the insured maintains:

(i) the insured's principal place of business;  or

(ii) if the insured is an individual, the insured's principal residence;  or

(B) if one hundred percent (100%) of the insured risk is located outside the state described in clause (A), the state to which the greatest percentage of the insured's taxable premium for the insurance contract is allocated.

(2) With respect to an affiliated group, if more than one (1) insured from the affiliated group is a named insured on a single nonadmitted insurance policy or contract, the home state determined under subdivision (1) of the member of the affiliated group that has the largest percentage of premium attributed to the member under the nonadmitted insurance policy or contract.

(f) As used in this chapter, “nonadmitted insurance policy or contract” means an insurance policy or contract that is issued by an insurer that is not authorized to transact the business of insurance under the law of the home state.

(g) As used in this chapter, “principal place of business” means, with respect to determining the home state of an insured, the state where the:

(1) insured maintains the insured's headquarters;  and

(2) insured's officers direct, control, and coordinate the business activities of the insured.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Indiana Code Title 27. Insurance § 27-1-15.8-1 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-27-insurance/in-code-sect-27-1-15-8-1/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard