Indiana § 27-2-24-4 - "Final settlement"
Full text of Indiana Indiana Code § 27-2-24-4 — "Final settlement", with citation guidance and answers to common questions.
§ 27-2-24-4. "Final settlement"
Sec. 4. (a) As used in this chapter, "final settlement" means a determination:
(1) of the amount owed to an innocent coinsured by an insurer:
(A) under the building coverage part of a policy of property or casualty insurance; and
(B) for property loss to the innocent coinsured's primary residence; and
(2) made by any of the following methods:
(A) Acceptance of a proof of loss by the insurer.
(B) Execution of a release by the innocent coinsured.
(C) Acceptance of an arbitration award by the innocent coinsured 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 a policy of property or casualty insurance.
As added by P.L.148-2017, SEC.8.
Frequently Asked Questions About Indiana § 27-2-24-4
What does Indiana Code § 27-2-24-4 cover?
Section 27-2-24-4 (""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 § 27-2-24-4?
A common citation format is "Indiana Code § 27-2-24-4" (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 § 27-2-24-4 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.