27-15-1-12. “Plan of Conversion”
Sec. 12. “Plan of conversion” means the plan of conversion described in either IC 27-15-2-2 or IC 27-15-2-3. As added by P.L.94-1999, SEC.3.
27-15-1-13. “Rbc Level”
Sec. 13. “RBC level” has the meaning set forth in IC 27-1-36-18. As added by P.L.94-1999, SEC.3.
27-15-1-14. “Simple Plan of Conversion”
Sec. 14. “Simple plan of conversion” means the plan of conversion described in IC 27-15-2-3. As added by P.L.94-1999, SEC.3.
27-15-1-8. “Former Mutual”
Sec. 8. “Former mutual” means the domestic stock insurance company resulting from the conversion of a converting mutual to a stock insurance company under a plan of conversion and an amendment to its articles of incorporation under this article. As added by P.L.94-1999, SEC.3.
27-15-1-9. “Member”
Sec. 9. “Member” means a person that, according to the: (1) records; (2) articles of incorporation; and (3) bylaws; of a converting mutual, is a member of the converting mutual. As added by P.L.94-1999, SEC.3.
27-15-1-10. “Membership Interests”
Sec. 10. “Membership interests” means: (1) the voting rights of members of a domestic mutual insurance company as provided by law and by the company’s articles of incorporation and bylaws; and (2) the rights of members of a domestic mutual insurance company to receive cash, stock, or other consideration in the event of a conversion […]
27-15-1-11. “Parent Company”
Sec. 11. “Parent company” means a corporation that, upon the effective date of a conversion, owns all of the stock of the former mutual. As added by P.L.94-1999, SEC.3.
27-15-1-1. Short Title
Sec. 1. This article may be referred to as the Indiana demutualization law. As added by P.L.94-1999, SEC.3.
27-15-1-2. Conversion Generally
Sec. 2. (a) Any domestic mutual insurance company that: (1) maintains its executive offices in Indiana; and (2) employs at least five hundred (500) persons or a substantial percentage of its workforce in Indiana; may, by amendment to its articles of incorporation, convert to a stock insurance company by means of a plan of conversion […]
27-15-1-3. Applicability of Definitions
Sec. 3. The definitions set forth in this chapter and IC 27-1-2-3 apply throughout this article. As added by P.L.94-1999, SEC.3.