Indiana § 27-7-1-9 - Foreign Lloyds association; certificate of authority; application; unearned premium reserve
Full text of Indiana Indiana Code § 27-7-1-9 — Foreign Lloyds association; certificate of authority; application; unearned premium reserve, with citation guidance and answers to common questions.
§ 27-7-1-9. Foreign Lloyds association; certificate of authority; application; unearned premium reserve
Sec. 9. The insurance commissioner may, in the insurance commissioner's discretion, issue a certificate of authority to a Lloyds domiciled in another state to do business in this state, for permission to do which application is made as may be authorized by the articles of association or copartnership agreement under which said Lloyds is operated. However, in no event shall authority be given to any such Lloyds to do any kind of insurance business other than those specified in section 7 of this chapter. The application for such certificate shall specify the kind of business such Lloyds desires the authority to transact in this state. It must be signed by the attorney or attorneys in fact for such Lloyds, and must file with the insurance commissioner a certificate from the insurance department of its home state that it has and maintains at all times an unearned premium reserve as is required of stock companies of said state, and that the total subscription of its subscribers shall not be less than two hundred fifty thousand dollars ($250,000), and that at least twenty-five percent (25%) thereof is paid in cash.
Formerly: Acts 1919, c.177, s.9. As amended by P.L.252-1985, SEC.225; P.L.148-2017, SEC.14.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 27-7-1-9
What does Indiana Code § 27-7-1-9 cover?
Section 27-7-1-9 ("Foreign Lloyds association; certificate of authority; application; unearned premium reserve") 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 § 27-7-1-9?
A common citation format is "Indiana Code § 27-7-1-9" (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 § 27-7-1-9 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.