{"data":{"id":"us-in/ic-27-9-3-40.5","jurisdiction":"us-in","citation":"IC 27-9-3-40.5","heading":"Segregated investment accounts","body":"Sec. 40.5. (a) A claim under a contract that is funded by an account established under IC 27-1-5-1 as a segregated investment account must be satisfied from the assets maintained in the account. The segregated investment account is not chargeable with a liability arising out of other business that the insurer conducts that has no specific relation to or dependence on the account.\n(b) Surplus remaining in a segregated investment account by virtue of a guarantee by the insurer as described in IC 27-1-5-1 must be included in the assets of the insurer's estate.\n(c) A deficit in a segregated investment account by virtue of a guarantee by an insurer as described in IC 27-1-5-1 must be treated as a Class 2 claim under section 40 of this chapter.","path":["TITLE 27. INSURANCE","ARTICLE 9. SUPERVISION; REHABILITATION; LIQUIDATION","Chapter 3. Formal Proceedings"],"source_url":"https://iga.in.gov/ic/2026/Title_27.html#27-9-3-40.5","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-25T05:39:04Z","sha256":"a498284135b44b4cf0ef37ecdfd0f4ace6fdee74caa7b954c27bcf85fd11b982","source_id":"us-in","stale":false,"prev":"us-in/ic-27-9-3-40","next":"us-in/ic-27-9-3-41"},"notice":"GroundRules: Original legal text. Not legal advice."}