IC 13-11-2-198 "Self-insurance"
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/in/title-13-environment/article-11-definitions/chapter-2-definitions/13-11-2-198·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 198. "Self insurance", for purposes of IC 13-22-9 , means the practice of meeting expenses when those expenses are incurred with financial resources that:
(1)were previously set aside for the purpose of meeting those expenses; or
(2)are not committed to another purpose;
rather than through a trust fund, a surety bond, a letter of credit, or an insurance policy.
As added by P.L.1-1996, SEC.1.