{"data":{"id":"us-in/ic-27-1-12.7-5","jurisdiction":"us-in","citation":"IC 27-1-12.7-5","heading":"Issuance or issuance for delivery of funding agreements","body":"Sec. 5. A life insurance company may issue or issue for delivery in Indiana a funding agreement to the following:\n(1) A person authorized by a state or foreign country to engage in an insurance business or a subsidiary of an insurance business.\n(2) A person who uses the funding agreement for the purpose of funding:\n(A) benefits under an employee benefit plan (as defined in the federal Employee Retirement Security Act of 1974, 29 U.S.C. 1001 et seq.);\n(B) the activities of a nonprofit organization exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code or a similar nonprofit organization domiciled in a foreign country;\n(C) a program of:\n(i) the United States government;\n(ii) a state government;\n(iii) a political subdivision;\n(iv) a foreign country; or\n(v) an agency or instrumentality of the United States or a state government, a political subdivision, or a foreign country;\n(D) an agreement providing for periodic payments in satisfaction of a claim;\n(E) a program of an institution with assets exceeding twenty-five million dollars ($25,000,000);\n(F) a program in which a business entity, including a trust:\n(i) purchases and holds funding agreements; and\n(ii) issues securities by using the funding agreement to finance or collateralize the securities; or\n(G) any program or activity substantially similar to a program or an activity described in clauses (A) through (F) that is first authorized by the commissioner.","path":["TITLE 27. INSURANCE","ARTICLE 1. DEPARTMENT OF INSURANCE","Chapter 12.7. Funding Agreements"],"source_url":"https://iga.in.gov/ic/2026/Title_27.html#27-1-12.7-5","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-25T05:39:04Z","sha256":"0815b91205b2aabd197ffc7dcaa02ff3e5e1db19627dd484b041ed3d73268507","source_id":"us-in","stale":false,"prev":"us-in/ic-27-1-12.7-4","next":"us-in/ic-27-1-12.7-6"},"notice":"GroundRules: Original legal text. Not legal advice."}