{"data":{"id":"us-in/ic-27-1-29.1-8","jurisdiction":"us-in","citation":"IC 27-1-29.1-8","heading":"Reserve account; issuance of bonds to establish account; use of funds","body":"Sec. 8. (a) The commission shall establish a reserve account in the fund. A balance of at least five million dollars ($5,000,000) must remain in the reserve account. To provide money to establish the reserve account, the commission may issue bonds under IC 27-1-29-17(b)(1). The bonds issued to provide money for the establishment of the reserve account may not exceed a total amount of forty million dollars ($40,000,000).\n(b) Money in the reserve account shall be held and applied solely to pay claims against the fund that cannot be paid from other money in the fund.","path":["TITLE 27. INSURANCE","ARTICLE 1. DEPARTMENT OF INSURANCE","Chapter 29.1. Political Subdivision Catastrophic Liability Fund"],"source_url":"https://iga.in.gov/ic/2026/Title_27.html#27-1-29.1-8","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-25T05:39:04Z","sha256":"fde95828d5d91ecfeea55ddfe9fee4f5f293ae16b34e617d5fd0bf8abf74465d","source_id":"us-in","stale":false,"prev":"us-in/ic-27-1-29.1-7","next":"us-in/ic-27-1-29.1-9"},"notice":"GroundRules: Original legal text. Not legal advice."}