Notwithstanding IC 27-9-3 and this chapter, a receiver may not avoid a transfer of money or other property arising in connection with:

1. (1) a netting agreement or qualified financial contract;
2. (2) a pledge, security, collateral, reimbursement, guarantee agreement, or similar security agreement; or

3. (3) an arrangement or credit enhancement relating to a netting agreement or qualified financial contract;

   made before the commencement of a formal delinquency proceeding under IC 27-9-3 . However, a receiver may avoid a transfer made with actual intent to hinder, delay, or defraud the insurer, the insurer's receiver, or creditors.

As added by P.L.11-2011, SEC.36.