Section 760IAC1-7-1. Authority to promulgate rule; purpose and applicability of rule

   Authority and Purpose. Pursuant to the authority given by the Insurance Laws of the State of Indiana, particularly Acts 1935, Chapter 162, Section 14 [IC 27-1-3-7], the Department of Insurance (the "Department") hereby makes and promulgates the following rules and regulations [760 IAC 1-7], declaring that the conduct or transaction of business by an insurance company subject to the laws of the State of Indiana in any manner contrary to these regulations [760 IAC 1-7] shall be deemed to be an unsafe manner, and that it is the purpose of these rules and regulations [760 IAC 1-7] to establish safe and sound methods for the transaction of the type of business to which they pertain.

  On and after the effective date hereof, these rules and regulations [760 IAC 1-7] shall apply to insurance companies issuing or delivering within this state contracts of the nature described in Class I(c) of Section 59 [IC 27-1-5-1] of the Insurance Laws of the State of Indiana (hereinafter referred to as "Class I(c) Contracts"). (Department of Insurance; Reg 7,I; filed Feb 3, 1964, 9:40 am: Rules and Regs. 1965, p. 96; filed Mar 18, 1970, 10:20 am: Rules and Regs. 1971, p. 204; readopted filed Sep 14, 2001, 12:22 p.m.: 25 IR 530; readopted filed Nov 27, 2007, 4:01 p.m.: 20071226-IR-760070717RFA; readopted filed Nov 26, 2013, 3:43 p.m.: 20131225-IR-760130479RFA)