{"data":{"id":"us-in/ic-27-1-12-12","jurisdiction":"us-in","citation":"IC 27-1-12-12","heading":"Transition period; selection of date; effect","body":"Sec. 12. The period beginning July 1, 1943, and ending January 1, 1948, both dates inclusive, shall be a transition period between the nonforfeiture provisions set forth respectively in sections 5, 6, and 7 of this chapter and between the valuation provisions set forth respectively in IC 27-1-12.8-18 and IC 27-1-12.8-19 through IC 27-1-12.8-40. Accordingly, a company may, by means of a writing filed with the department, select a transition date within such period, but should a company fail to make such a selection, the transition date as to such company shall be January 1, 1948. Except as otherwise provided in IC 27-1-12.8, for group annuities and pure endowments, policies issued prior to the transition date shall be governed in all respects and at all times by section 5 of this chapter and IC 27-1-12.8-18, and policies issued on or after such transition date shall be governed in all respects and at all times by sections 6 and 7 of this chapter and IC 27-1-12.8. A company's election of a transition date shall be irrevocable and shall apply to sections 6 and 7 of this chapter and IC 27-1-12.8 without exception, as well as to that portion of section 31 of this chapter which relates to policies bearing a date of issue later than such transition date.","path":["TITLE 27. INSURANCE","ARTICLE 1. DEPARTMENT OF INSURANCE","Chapter 12. Life Insurance Company Powers and Policy Requirements"],"source_url":"https://iga.in.gov/ic/2026/Title_27.html#27-1-12-12","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-25T05:39:04Z","sha256":"fdfe924ee90f47508ca166713b02c2be96edce5ef2df73cc0faae62d72a53567","source_id":"us-in","stale":false,"prev":"us-in/ic-27-1-12-11","next":"us-in/ic-27-1-12-13"},"notice":"GroundRules: Original legal text. Not legal advice."}