{"data":{"id":"us-in/ic-27-1-20-25","jurisdiction":"us-in","citation":"IC 27-1-20-25","heading":"Organization of new companies on Lloyds or assessment plan prohibited; surplus requirement for reciprocal plan","body":"Sec. 25. (a) A domestic company that organized after March 7, 1935, may not operate:\n(1) an insurance business on the assessment plan; or\n(2) an insurance business as Lloyds.\n(b) A domestic company may not operate an insurance business on the reciprocal plan as an interinsurer or individual underwriter unless it has a surplus over all policy liabilities of not less than two hundred fifty thousand dollars ($250,000).","path":["TITLE 27. INSURANCE","ARTICLE 1. DEPARTMENT OF INSURANCE","Chapter 20. Additional Provisions Pertaining to All Insurance Companies"],"source_url":"https://iga.in.gov/ic/2026/Title_27.html#27-1-20-25","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-25T05:39:04Z","sha256":"2957ea70bae36b5a89fdf7cef151283141c1d61ffce2f627959533d9c092462d","source_id":"us-in","stale":false,"prev":"us-in/ic-27-1-20-24","next":"us-in/ic-27-1-20-26"},"notice":"GroundRules: Original legal text. Not legal advice."}