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.
Indiana Legal Code