Indiana § 27-1-12-20 - Premium deposits; maximum; inclusion in cash surrender value; disposition; withdrawal
Full text of Indiana Indiana Code § 27-1-12-20 — Premium deposits; maximum; inclusion in cash surrender value; disposition; withdrawal, with citation guidance and answers to common questions.
§ 27-1-12-20. Premium deposits; maximum; inclusion in cash surrender value; disposition; withdrawal
Sec. 20. No life insurance company shall receive or accept, by virtue of the provisions set forth in any policy or indorsement thereon, any premium deposit in excess of the regular premium then due whenever the total premium deposit together with the policy reserve shall be sufficient as a gross premium to convert the policy into a fully paid policy. The policy or indorsement shall contain a provision that the amount of any premium deposit fund held by the company will be included as a part of the cash surrender value of the policy, a provision providing for the disposition of such fund if it is not sufficient to pay the next premium, and a provision that such fund is not withdrawable except by surrender of the policy, a loan thereon or through the selection of a nonforfeiture value.
Formerly: Acts 1935, c.162, s.159.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 27-1-12-20
What does Indiana Code § 27-1-12-20 cover?
Section 27-1-12-20 ("Premium deposits; maximum; inclusion in cash surrender value; disposition; withdrawal") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 27-1-12-20?
A common citation format is "Indiana Code § 27-1-12-20" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 27-1-12-20 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.