Indiana § 27-15-10-1 - Purpose of provisions; prohibitions
Full text of Indiana Indiana Code § 27-15-10-1 — Purpose of provisions; prohibitions, with citation guidance and answers to common questions.
§ 27-15-10-1. Purpose of provisions; prohibitions
Sec. 1. (a) The sole purpose of any dividend preservation provision shall be to provide for reasonable policyholder dividend expectations on policies that provide for the distribution of policy dividends.
(b) No dividend preservation provision in a plan under this article shall be permitted:
(1) to be a substitute for the distribution of consideration to eligible members upon extinguishing their membership interests as required by this article; or
(2) to diminish any contractual rights to a dividend that a member or policyholder may have.
As added by P.L.94-1999, SEC.3.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 27-15-10-1
What does Indiana Code § 27-15-10-1 cover?
Section 27-15-10-1 ("Purpose of provisions; prohibitions") 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 § 27-15-10-1?
A common citation format is "Indiana Code § 27-15-10-1" (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 § 27-15-10-1 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.