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Indiana Code Title 27. Insurance § 27-9-1-5

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

Sec. 5.  (a) An officer, manager, director, trustee, owner, employee, or insurance producer of any insurer, or any other persons with authority over or in charge of any segment of the insurer's affairs, shall cooperate with the commissioner in any proceeding under IC 27-9 or any investigation preliminary to the proceeding.  The term “person”, as used in this section, includes any person who exercises control, directly or indirectly, over activities of an insurer through any holding company or other affiliate of the insurer. “To cooperate” includes:

(1) replying promptly in writing to any inquiry from the commissioner requesting such a reply;  and

(2) making available to the commissioner all books, accounts, documents, or other records, information, or property of or pertaining to the insurer and in the insurer's possession, custody, or control.

(b) A person may not obstruct or interfere with the commissioner in the conduct of any delinquency proceeding or any investigation preliminary to or incidental to an investigation.

(c) This section does not abridge existing legal rights, including the right to resist a petition for liquidation, other delinquency proceedings, or other orders.

(d) A person who:

(1) is included within subsection (a) and who fails to cooperate with the commissioner;

(2) obstructs or interferes with the commissioner in the conduct of any delinquency proceeding or any investigation preliminary or incidental to a delinquency proceeding;  or

(3) violates any order of the commissioner under IC 27-9;

commits a Class A infraction.

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Cite this article: FindLaw.com - Indiana Code Title 27. Insurance § 27-9-1-5 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-27-insurance/in-code-sect-27-9-1-5/

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