Sec. 27. The department shall establish and follow a practice under which the department issues an order to limit or disallow the payment of ordinary shareholder dividends by a domestic insurer if the domestic insurer is found to be financially distressed or troubled. As added by P.L.130-1994, SEC.6 and P.L.116-1994, SEC.10.
Order to limit or disallow payment of ordinary shareholder dividends
Ind. Code § 27-1-3-27, under General Powers and Duties of the Department.
Ind. Code § 27-1-3-27