Ind. Code § 27-1-3.5-0.5
This is the official text of Ind. Code § 27-1-3.5-0.5, part of Indiana’s Code — part of the compiled statutory law of Indiana, published by the state as "Code." Browse the sections below, each linked to its official government source.
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"Audit committee"
Official statutory text
Sec. 0.5. (a) As used in this chapter, "audit committee" means a body established by the board of directors of a domestic insurer or group of insurers for the purpose of overseeing:
(1) the accounting and financial reporting processes;
(2) external audits of financial statements; and
(3) the internal audit function;
of a domestic insurer or group of insurers.
(b) For purposes of this chapter, the audit committee of an insurance holding company system is considered to be the audit committee of a group of insurers that are members of the insurance holding company system, at the election of the insurance holding company system.
(c) For purposes of this chapter, if a board of directors does not establish an audit committee, the entire board of directors constitutes the audit committee.
As added by P.L.146-2015, SEC.3.
(1) the accounting and financial reporting processes;
(2) external audits of financial statements; and
(3) the internal audit function;
of a domestic insurer or group of insurers.
(b) For purposes of this chapter, the audit committee of an insurance holding company system is considered to be the audit committee of a group of insurers that are members of the insurance holding company system, at the election of the insurance holding company system.
(c) For purposes of this chapter, if a board of directors does not establish an audit committee, the entire board of directors constitutes the audit committee.
As added by P.L.146-2015, SEC.3.
Status: in_force · Read it on the official government site
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