IC 27-1-3-26: Order to limit ordinary shareholder dividends

Sec. 26. The department shall establish and follow a practice under which the department issues an order to a domestic insurer to limit the payment of ordinary shareholder dividends by the insurer if the department determines that the surplus of the insurer as regards policyholders:

(1) is not reasonable in relation to the outstanding liabilities of the insurer; and

(2) is not adequate to the financial needs of the insurer.