Indiana § 27-2-15-3.2 - "Final settlement"
Full text of Indiana Indiana Code § 27-2-15-3.2 — "Final settlement", with citation guidance and answers to common questions.
§ 27-2-15-3.2. "Final settlement"
Sec. 3.2. (a) As used in this chapter, "final settlement" means a determination:
(1) of the amount owed to an insured:
(A) under the building coverage part of an insurance policy issued by an insurer; and
(B) for damage to or loss of a building or other structure caused by fire or explosion; and
(2) made by any of the following means:
(A) Acceptance of a proof of loss by the insurer.
(B) Execution of a release by the named insured.
(C) Acceptance of an arbitration award by the named insured and the insurer.
(D) Judgment of a court of competent jurisdiction.
(b) The term "final settlement" does not apply to damage or loss related to contents, personal property, or another loss that is not covered under the building coverage part of an insurance policy.
As added by P.L.238-2013, SEC.3.
Frequently Asked Questions About Indiana § 27-2-15-3.2
What does Indiana Code § 27-2-15-3.2 cover?
Section 27-2-15-3.2 (""Final settlement"") 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 § 27-2-15-3.2?
A common citation format is "Indiana Code § 27-2-15-3.2" (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 § 27-2-15-3.2 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.