Section 329IAC10-2-68. "Face amount" defined

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"Face amount" means the total amount the insurer is obligated to pay under the insurance policy. Actual payments by the insurer will not change the face amount, although the insurer's future liability will be lowered by the amount of the payments. (Solid Waste Management Division; 329 IAC 10-2-68; filed Mar 14, 1996, 5:00 p.m.: 19 IR 1772)

                    
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