§ 6

Ind. Code § 27-1-12.7-6

Funding agreements interpretation

As added by P.L.178-2003, SEC.18. Amended by P.L.27-2007, SEC.25.

The issuance of a funding agreement:

  1. (1) constitutes an activity necessary, convenient, or expedient to the business of a life insurance company under IC 27-1-7-2 ;
  2. (2) is not insurance under IC 27-1-5-1 ;
  3. (3) is not a security (as defined in IC 23-19-1-2 (28)); and
  4. (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.

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