Indiana § 28-5-1-5 - Capital requirements
Full text of Indiana Indiana Code § 28-5-1-5 — Capital requirements, with citation guidance and answers to common questions.
§ 28-5-1-5. Capital requirements
Sec. 5. The capital stock of any company engaged in business under the provisions of this chapter:
(1) shall be in an amount determined by the department based on the risk profile and business activity of the company during any application or approval process required by the department under this chapter;
(2) shall be fully paid to the corporation in cash; and
(3) shall not at any time thereafter be voluntarily reduced below the amount originally paid in.
Ongoing capital requirements shall be risk-based, as determined by the department. In the event the capital of any such company should for any reason become impaired, as determined by the department, the right to issue certificates of indebtedness or investment as provided in this chapter shall forthwith be suspended until said capital stock has been restored to an amount determined prudent by the department.
Formerly: Acts 1935, c.181, s.5. As amended by P.L.263-1985, SEC.151; P.L.176-2019, SEC.58.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 28-5-1-5
What does Indiana Code § 28-5-1-5 cover?
Section 28-5-1-5 ("Capital requirements") 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 § 28-5-1-5?
A common citation format is "Indiana Code § 28-5-1-5" (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 § 28-5-1-5 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.