27-15-16-1. Parent Company
Sec. 1. A parent company under this article: (1) shall locate its executive offices in Indiana; (2) shall employ at least five hundred (500) persons or a substantial percentage of its workforce in Indiana; (3) shall be organized under the laws of Indiana; and (4) may be: (A) a corporation organized for the purpose of […]
27-15-16-2. Rules
Sec. 2. The commissioner may adopt rules under IC 4-22-2 necessary for the administration of this article. As added by P.L.94-1999, SEC.3.
27-15-16-3. Hiring Professionals Necessary to Assist Commissioner’s Review
Sec. 3. (a) The commissioner may, at the expense of a converting mutual that has: (1) filed an application under this article; (2) notified the commissioner of its intention to file an application under this article; or (3) adopted a resolution proposing a simple plan of conversion under this article; hire accountants, actuaries, attorneys, financial […]
27-15-16-4. Failure to Give Notice; Good Faith Exception
Sec. 4. If a converting mutual complies substantially and in good faith with this article with respect to any required notice to members and policyholders, its failure in any case to give the notice to any person entitled to notice does not: (1) impair the validity of actions taken under this article; or (2) entitle […]
27-15-16-5. Abandonment of Plan of Conversion
Sec. 5. At any time before the effective date of the plan of conversion, the plan may be abandoned under provisions included in the plan of conversion filed under this article. As added by P.L.94-1999, SEC.3.
27-15-16-6. Use of “Mutual” Prohibited After Conversion
Sec. 6. After conversion, the name of the former mutual may not include the term “mutual”. As added by P.L.94-1999, SEC.3.