IC 27-1-20-9 — Substitution of securities on deposit; withdrawal of securities in excess of requirements
Chapter 20. Additional Provisions Pertaining to All Insurance Companies
Section text
Sec. 9. Companies shall have the right at any time to change their securities on deposit, by substituting for those withdrawn a like amount in other securities of the character provided for in this article, and whenever the net cash value of policies outstanding and in force against any company is less than the amount of securities then on deposit with the department, said company shall have the right to withdraw such excess, but at least twenty-five thousand dollars ($25,000) shall remain on deposit.
Formerly: Acts 1935, c.162, s.256. As amended by P.L.252-1985, SEC.90.
Source: official publisher (2026 edition)