Indiana § 27-1-12-21 - Power to hold proceeds under trust or other agreement with policyholder
Full text of Indiana Indiana Code § 27-1-12-21 — Power to hold proceeds under trust or other agreement with policyholder, with citation guidance and answers to common questions.
§ 27-1-12-21. Power to hold proceeds under trust or other agreement with policyholder
Sec. 21. Any life insurance company organized under the laws of this state shall have power to hold the proceeds of any policy issued by it under a trust or other agreement upon such terms and restrictions as to revocation by the policyholder and control by beneficiaries and with such exemptions from the claims of creditors of beneficiaries other than the policyholder as shall have been agreed to in writing by such company and the policyholder. Such insurance company shall not be required to segregate funds so held but may hold them as a part of its general corporate assets.
Formerly: Acts 1935, c.162, s.160.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 27-1-12-21
What does Indiana Code § 27-1-12-21 cover?
Section 27-1-12-21 ("Power to hold proceeds under trust or other agreement with policyholder") 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 § 27-1-12-21?
A common citation format is "Indiana Code § 27-1-12-21" (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 § 27-1-12-21 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.