# Ind. Code § 27-1-23-1.5: Dividend payments; notice; content

> Indiana · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C23_S27-1-23-1.5

## Section

- **Citation:** Ind. Code § 27-1-23-1.5
- **Heading:** Dividend payments; notice; content
- **Jurisdiction:** Indiana
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Indiana Code / Title 27 / Article 1 / Chapter 23 / Section 27-1-23-1.5

## Text

Sec. 1.5. (a) A domestic insurer that is a member of an insurance holding company system may not pay a dividend unless the insurer notifies the department of the dividend and the department receives the notice from the insurer:

(1) not more than five (5) business days after the declaration of the dividend or distribution; and

(2) at least ten (10) days before the payment of the dividend or distribution.

(b) A notice provided by an insurer under subsection (a) must contain information indicating that the surplus of the insurer as regards policyholders will be:

(1) reasonable in relation to the outstanding liabilities of the insurer; and

(2) adequate to the financial needs of the insurer;

following the payment of the dividend.

(c) After receiving a notice from an insurer under this section, the department shall promptly consider the information set forth in the notice under subsection (b). In the department's consideration of the information, the department shall apply the factors set forth in section 4(f) of this chapter.

As added by P.L.130-1994, SEC.29 and P.L.116-1994, SEC.39.

## Nearby sections

- [Ind. Code § 27-1-23-1 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C23_S27-1-23-1.md)
- [Ind. Code § 27-1-23-1.5 Dividend payments; notice; content](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C23_S27-1-23-1.5.md)
- [Ind. Code § 27-1-23-2 Acquisition of domestic insurance company; statement to commissioner; hearings; notice; approval; exceptions; process](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C23_S27-1-23-2.md)
- [Ind. Code § 27-1-23-2.5 Acquisitions in which there is a change in control of an insurer; pre-acquisition notification; waiting period; competitive standards; violations; order; penalties](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C23_S27-1-23-2.5.md)
- [Ind. Code § 27-1-23-2.6 Primary and subsidiary companies](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C23_S27-1-23-2.6.md)
- [Ind. Code § 27-1-23-3 Registration; amendments; termination; disclaimer of affiliation; filing requirements; civil penalty](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C23_S27-1-23-3.md)
- [Ind. Code § 27-1-23-4 Material transactions; standards; prohibitions; review; notice; financial status; extraordinary dividends; civil penalty](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C23_S27-1-23-4.md)
- [Ind. Code § 27-1-23-5 Examination of registered insurer records; liability for expenses; noncompliance](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C23_S27-1-23-5.md)
- [Ind. Code § 27-1-23-5.1 Supervisory college](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C23_S27-1-23-5.1.md)
- [Ind. Code § 27-1-23-5.3 Internationally active insurance group; group wide supervisor](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C23_S27-1-23-5.3.md)
- [Ind. Code § 27-1-23-6 Confidential and privileged information; sharing of information; requirements](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C23_S27-1-23-6.md)
- [Ind. Code § 27-1-23-7 Rules](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C23_S27-1-23-7.md)
- [Ind. Code § 27-1-23-8 Enjoining violations; seizure or sequestration of securities](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C23_S27-1-23-8.md)
- [Ind. Code § 27-1-23-8.1 Violations; penalties](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C23_S27-1-23-8.1.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A1_C23_S27-1-23-1.5. Check the current official text before relying on it. Not legal advice.