# Ind. Code § 27-1-12.7-10: Regulation; funding agreement not a covered policy; claim for payments; assets in segregated asset account

> Indiana · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C12.7_S27-1-12.7-10

## Section

- **Citation:** Ind. Code § 27-1-12.7-10
- **Heading:** Regulation; funding agreement not a covered policy; claim for payments; assets in segregated asset account
- **Jurisdiction:** Indiana
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Indiana Code / Title 27 / Article 1 / Chapter 12.7 / Section 27-1-12.7-10

## Text

Sec. 10. Notwithstanding any other provision of law:

(1) the commissioner has the sole authority to regulate the issuance and sale of funding agreements;

(2) a funding agreement is not considered a covered policy under IC 27-8-8-2.3(d);

(3) a claim for payments under a funding agreement must be treated as a loss claim described in Class 2 of IC 27-9-3-40; and

(4) assets supporting a funding agreement in a segregated asset account under section 8 of this chapter are subject to IC 27-9-3-40.5 and Class 1(c) of IC 27-1-5-1.

As added by P.L.178-2003, SEC.18. Amended by P.L.193-2006, SEC.2; P.L.173-2007, SEC.8; P.L.1-2010, SEC.109.

## Nearby sections

- [Ind. Code § 27-1-12.7-1 "Funding agreement"](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C12.7_S27-1-12.7-1.md)
- [Ind. Code § 27-1-12.7-2 "Holder"](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C12.7_S27-1-12.7-2.md)
- [Ind. Code § 27-1-12.7-3 "Life insurance company"](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C12.7_S27-1-12.7-3.md)
- [Ind. Code § 27-1-12.7-4 "Optional modes of settlement"](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C12.7_S27-1-12.7-4.md)
- [Ind. Code § 27-1-12.7-5 Issuance or issuance for delivery of funding agreements](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C12.7_S27-1-12.7-5.md)
- [Ind. Code § 27-1-12.7-6 Funding agreements interpretation](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C12.7_S27-1-12.7-6.md)
- [Ind. Code § 27-1-12.7-7 Guaranteed or credited amounts under funding agreements](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C12.7_S27-1-12.7-7.md)
- [Ind. Code § 27-1-12.7-8 Segregated asset accounts](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C12.7_S27-1-12.7-8.md)
- [Ind. Code § 27-1-12.7-9 Commissioner; conditions; rules](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C12.7_S27-1-12.7-9.md)
- [Ind. Code § 27-1-12.7-10 Regulation; funding agreement not a covered policy; claim for payments; assets in segregated asset account](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C12.7_S27-1-12.7-10.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C12.7_S27-1-12.7-10. Check the current official text before relying on it. Not legal advice.