IC 27-1-12.7-6 : Funding agreements interpretation

Sec. 6. The issuance of a funding agreement:

(1) constitutes an activity necessary, convenient, or expedient to the business of a life insurance company under IC 27-1-7-2;

(2) is not insurance under IC 27-1-5-1;

(3) is not a security (as defined in IC 23-19-1-2(28)); and

(4) does not constitute gross premium for taxation purposes under IC 27-1-18-2.

As added by P.L.178-2003, SEC.18. Amended by P.L.27-2007, SEC.25.