The certificate of authority of any such Lloyds, whether domestic or foreign, shall be revoked by the insurance commissioner if at any time it appears that any underwriters are issuing policies of insurance within the state under apparent authority of such certificate without filing such declaration and agreement as aforesaid, or if such Lloyds does not maintain at all times the funds specified in this chapter, or has violated its agreement or the law, or is found to be in such a condition that the further transaction of business by it will be hazardous to the policyholders, its creditors, or the public.Formerly: Acts 1919, c.177, s.11. As amended by P.L.252-1985, SEC.226.
Indiana Legal Code