Indiana § 27-1-20-7 - Withdrawal from deposit to pledge for loan; effect; redeposit
Full text of Indiana Indiana Code § 27-1-20-7 — Withdrawal from deposit to pledge for loan; effect; redeposit, with citation guidance and answers to common questions.
§ 27-1-20-7. Withdrawal from deposit to pledge for loan; effect; redeposit
Sec. 7. Nothing in this article shall prevent a life insurance company, with the commissioner's consent, from withdrawing investments from deposit for the purpose of pledging them for a loan or loans, in which case the difference between the deposit value of such investments and the amount of the obligation or obligations thereby secured shall, unless and until such pledge is foreclosed, continue as a deposit credit, and when such investments are offered for deposit they shall be reinstated in all respects to their former status as a deposit.
Formerly: Acts 1935, c.162, s.254. As amended by P.L.252-1985, SEC.89.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 27-1-20-7
What does Indiana Code § 27-1-20-7 cover?
Section 27-1-20-7 ("Withdrawal from deposit to pledge for loan; effect; redeposit") 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 § 27-1-20-7?
A common citation format is "Indiana Code § 27-1-20-7" (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 § 27-1-20-7 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.