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Introduced House Bill (H)

DIGEST

Political subdivision risk management. Requires the Indiana Public Employers' Plan, Inc. (IPEP), which was established as a domestic nonprofit corporation, to apply for a certificate of authority to transact business as a domestic tax exempt reciprocal insurance company. Provides that, when IPEP receives the certificate of authority and begins to transact business as a domestic tax exempt reciprocal insurance company, all powers, duties, agreements, and liabilities that IPEP had as a domestic nonprofit corporation are transferred to the domestic tax exempt reciprocal insurance company as the successor entity. Repeals and strikes provisions under which mutual insurance associations and reciprocal associations Political subdivision risk management. Requires the Indiana Public Employers' Plan, Inc. (IPEP), which was established as a domestic nonprofit corporation, to apply for a certificate of authority to transact business as a domestic tax exempt reciprocal insurance company. Provides that, when IPEP receives the certificate of authority and begins to transact business as a domestic tax exempt reciprocal insurance company, all powers, duties, agreements, and liabilities that IPEP had as a domestic nonprofit corporation are transferred to the domestic tax exempt reciprocal insurance company as the successor entity. Repeals and strikes provisions under which mutual insurance associations and reciprocal associations formed and operating for the writing of worker's compensation insurance are exempt from certain laws. ... View more