Indiana § 27-7-3-8 - Additional deposit to meet requirements of another state; withdrawal
Full text of Indiana Indiana Code § 27-7-3-8 — Additional deposit to meet requirements of another state; withdrawal, with citation guidance and answers to common questions.
§ 27-7-3-8. Additional deposit to meet requirements of another state; withdrawal
Sec. 8. In the event any such domestic company shall be required by the laws of any other state, country, or province, as a requirement prior to doing such business as defined in this chapter therein, to deposit, with the duly appointed officer of such other state, country, or province or with the department of this state, any securities or cash in excess of the deposit required of the company by this chapter, such company may deposit with the department securities of the character authorized by this chapter sufficient to meet such requirement. The department is hereby authorized and directed to receive such deposit and to hold it exclusively for the protection of all policyholders of the company. Any deposit so made to meet the requirement of any such other state, country, or province shall not be withdrawn by the company except upon filing with the department evidence satisfactory to it that the company has withdrawn from business, and has no unsecured liability outstanding in any such other state, country, or province by which such additional deposit was required, and upon the filing of such evidence, and the approval of the department, the company may withdraw such additional deposit. Upon the approval of the department, any such domestic company may deposit and use the reserve fund, provided for in section 9 of this chapter, for the purpose of complying with the additional deposit requirement of any other state, country, or province.
Formerly: Acts 1937, c.104, s.8. As amended by P.L.252-1985, SEC.254.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 27-7-3-8
What does Indiana Code § 27-7-3-8 cover?
Section 27-7-3-8 ("Additional deposit to meet requirements of another state; withdrawal") 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 § 27-7-3-8?
A common citation format is "Indiana Code § 27-7-3-8" (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 § 27-7-3-8 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.