If any domestic insurance company is insolvent, or in imminent danger of insolvency, or fails or suspends operation between the periods of examination authorized, it is a Class B misdemeanor for the highest officer then actively in charge of such domestic insurance company to knowingly fail to notify the department immediately, of such condition, failure, or suspension.Formerly: Acts 1935, c.162, s.21. As amended by Acts 1978, P.L.2, SEC.2704.
Indiana Legal Code