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§ 27-1-29-1-12 — Indiana Law | CourtGPT
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  2. Laws/
  3. Indiana/
  4. Title 27 - Insurance/
  5. Article 1 - Department of Insurance/
  6. Chapter 29.1 - Political Subdivision Catastrophic Liability Fund27-1-29.1-1. "Commission" Defined/
  7. § 27-1-29-1-12
Indiana Legal Code

§ 27-1-29-1-12

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(a) A liability of a member of the fund that is not a member of the political subdivision risk management fund under IC 27-1-29 does not qualify for partial payment under this chapter unless the total amount of the liability exceeds:(1) one million dollars ($1,000,000); or(2) another sum that is:(A) greater than one million dollars ($1,000,000); and(B) approved by the commission as a provision of the fund member's coverage because the fund member has underlying coverage with limits of liability that exceed one million dollars ($1,000,000).(b) A liability of a member of the fund that is also a member of the political subdivision risk management fund under IC 27-1-29 does not qualify for partial payment under this chapter unless the amount of the liability exceeds the amount of liability payable by the commission under IC 27-1-29 under the terms of the coverage document that is issued to the fund member and applicable to the liability.As added by P.L.272-1987, SEC.7.