{"data":{"id":"us-in/ic-27-5.1-2-25","jurisdiction":"us-in","citation":"IC 27-5.1-2-25","heading":"Notice of contract to manage or control; commissioner determination; managing general agent","body":"Sec. 25. (a) A person that intends to enter into a contract for the exclusive or dominant right to manage or control a farm mutual insurance company shall file notice of the contract with the commissioner at least thirty (30) days before entering into the contract.\n(b) The commissioner may approve a contract or proposed contract described in subsection (a) only if the contract is not detrimental to:\n(1) the policyholders of the farm mutual insurance company; or\n(2) the public.\n(c) If the commissioner disapproves a contract or proposed contract described in subsection (a), the commissioner shall provide written notice of the disapproval to the parties to the contract. A person that entered into a contract described in subsection (a) may not manage or control the farm mutual insurance company under the contract after receiving notice of the commissioner's disapproval of the contract.\n(d) A person that enters into a contract for the exclusive or dominant right to manage or control a farm mutual insurance company is the managing general agent (as defined in IC 27-1-33-4) of the farm mutual insurance company and shall comply with the requirements that apply to a managing general agent under IC 27.","path":["TITLE 27. INSURANCE","ARTICLE 5.1. FARM MUTUAL INSURANCE COMPANIES","Chapter 2. Farm Mutual Insurance Companies"],"source_url":"https://iga.in.gov/ic/2026/Title_27.html#27-5.1-2-25","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-25T05:39:04Z","sha256":"1bc8aff8fb4d03b3cff6308df07a7a569df7fed973acf8558f5ec36410a00d0b","source_id":"us-in","stale":false,"prev":"us-in/ic-27-5.1-2-24.5","next":"us-in/ic-27-5.1-2-26"},"notice":"GroundRules: Original legal text. Not legal advice."}