The issuance of a funding agreement:
- (1) constitutes an activity necessary, convenient, or expedient to the business of a life insurance company under IC 27-1-7-2 ;
- (2) is not insurance under IC 27-1-5-1 ;
- (3) is not a security (as defined in IC 23-19-1-2 (28)); and
- (4) does not constitute gross premium for taxation purposes under IC 27-1-18-2 .
As added by P.L.178-2003, SEC.18. Amended by P.L.27-2007, SEC.25.