Section 27-2-15-1 - "Available insurance proceeds" definedAs used in this chapter, "available insurance proceeds" means the proceeds payable under an insurance policy based upon a claim for damage to or loss of a building or other structure caused by fire or explosion, minus proceeds paid to:
(1) the insured for emergency living expenses;(2) take emergency action necessary to secure the premises;(3) prevent further damage to the premises; or(4) a lienholder or mortgagee who is not the target of an investigation by an authorized agency (as defined in IC 27-2-13-1).As added by P.L. 247-1989, SEC.2.