Indiana § 27-1-7-17 - Restrictions on dividend payments
Full text of Indiana Indiana Code § 27-1-7-17 — Restrictions on dividend payments, with citation guidance and answers to common questions.
§ 27-1-7-17. Restrictions on dividend payments
Sec. 17. No domestic company shall make any payments in form of dividends or otherwise to its shareholders, for or on account of any interest in or relation to the company as shareholders, unless it possesses assets in the amount of such payment, in excess of its liabilities, including its capital stock: Provided, That in no instance shall such dividend reduce the surplus below an amount equal to fifty per cent (50%) of the capital stock of such company; and no domestic company shall make any payments to its members or policyholders for or on account of any interest in or relation to the company as members or policyholders, except for matured claims or other policy obligations and in the purchase of surrender values, unless it possesses assets in the amount of such payments in excess of its liabilities.
Formerly: Acts 1935, c.162, s.95.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 27-1-7-17
What does Indiana Code § 27-1-7-17 cover?
Section 27-1-7-17 ("Restrictions on dividend payments") 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 § 27-1-7-17?
A common citation format is "Indiana Code § 27-1-7-17" (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 § 27-1-7-17 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.