§ 27-5-1-2-41

(b) An election under subsection (a) becomes effective on the date of issuance of a new certificate of authority under IC 27-1-11-7.(c) An insurance policy that is:(1) issued or bound by a farm mutual insurance company that makes an election under subsection (a); and(2) in effect on the date the election becomes effective;is not invalidated by IC 27-1, but remains in full force and effect until expiration or termination of the insurance policy. However, IC 27-1 applies to an insurance policy described in this subsection beginning three (3) years after the date the election becomes effective.As added by P.L.129-2003, SEC.8.