Indiana § 27-8-3-14 - Specification of amount payable upon particular contingency; obligation for payment; suspension of right to issue new policies until payment made
Full text of Indiana Indiana Code § 27-8-3-14 — Specification of amount payable upon particular contingency; obligation for payment; suspension of right to issue new policies until payment made, with citation guidance and answers to common questions.
§ 27-8-3-14. Specification of amount payable upon particular contingency; obligation for payment; suspension of right to issue new policies until payment made
Sec. 14. Every policy or certificate issued after March 9, 1897, by any corporation, association, or society doing business under this chapter and promising payment to be made upon a contingency of death or physical disability shall specify the sum of money which it promises to pay under such contingency, and the number of days after satisfactory proof of the happening thereof on which such payment shall be made. Upon the occurrence of such contingency, unless the contract shall have been avoided by fraud, or by breach of its conditions, the corporation, association, or society shall be obligated to the beneficiary for such payment, at the time and to the amount specified in the policy or certificate. If such corporation, association, or society shall refuse or fail to make such payment for sixty (60) days after final judgment has been obtained against such claim, the insurance commissioner shall notify the corporation, association, or society not to issue any new policies or certificates until such indebtedness is fully paid; and no officer or agent of the corporation, association, or society shall make, sign, or issue any policy or certificate of insurance while such notice is in force.
Formerly: Acts 1897, c.195, s.14. As amended by P.L.252-1985, SEC.286.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 27-8-3-14
What does Indiana Code § 27-8-3-14 cover?
Section 27-8-3-14 ("Specification of amount payable upon particular contingency; obligation for payment; suspension of right to issue new policies until payment made") 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 § 27-8-3-14?
A common citation format is "Indiana Code § 27-8-3-14" (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 § 27-8-3-14 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.