Sec. 6. The issuance of a funding agreement: (1) constitutes an activity necessary, convenient, or expedient to the business of a life insurance company under IC 27-1-7-2 ; (2) is not insurance under IC 27-1-5-1 ; (3) is not a security (as defined in IC 23-19-1-2 (28)); and (4) does not constitute gross premium for taxation purposes under IC 27-1-18-2 .
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