760 IAC 1-3-1 - Authority to promulgate rule

Authority: IC 27-1-3-7

Affected: IC 27-1-1-1; IC 27-1-2-1; IC 27-1-3; IC 27-1-6-17; IC 27-1-6-18; IC 27-1-20-32

Sec. 1.

AUTHORITY FOR REGULATION. Pursuant to the mandate of Section II [IC 27-1-3-4 ]of the Indiana Insurance Law reading:

"Every insurance company to which this act [IC 27-1-2-1 - IC 27-1-20-32 ]is applicable shall conduct and transact its business in a safe and prudent manner; shall maintain such company in a safe and solvent condition; and shall establish and maintain safe and sound methods for the conduct of such insurance company and its business and prudential affairs." and pursuant to authority reposed in The Department of Insurance under Section 1 [IC 27-1-1-1 ]of the Acts 1945, ch. 351 and Sections 14, 15, 17, 26, 76 and 77 [IC 27-1-3-7, IC 27-1-3-8, IC 27-1-3-10, IC 27-1-3-19, IC 27-1-6-17 and IC 27-1-6-18 ]of the Indiana Insurance Law, this Regulation, No. 1956-1, is hereby adopted.

Notes

760 IAC 1-3-1

Department of Insurance; Reg 1956-1,I; filed Jan 4, 1957: Rules and Regs. 1958, p. 124; readopted filed Sep 14, 2001, 12:22 p.m.: 25 IR 530; readopted filed Nov 27, 2007, 4:01 p.m.: 20071226-IR-760070717RFA; readopted filed November 26, 2013, 3:43 p.m.: 20131225-IR-760130479RFA Readopted filed 11/19/2019, 9:18 a.m.: 20191218-IR-760190497RFA