Sec. 1. The proposed plan of conversion and amendment to the articles of incorporation of the converting mutual shall be submitted to a vote of the members of the converting mutual, as provided in IC 27-1-8-3 and in this chapter. As added by P.L.94-1999, SEC.3.
Sec. 2. The meeting of members shall be held not later than ninety (90) days after the later of: (1) the issuance of the commissioner’s order approving the conversion; or (2) the final resolution of an appeal of that decision under this article. As added by P.L.94-1999, SEC.3.
Sec. 3. (a) The members of the converting mutual entitled to vote on the plan of conversion and the amendment to the articles of incorporation shall be given written notice of their opportunity to vote. The notice shall be accompanied by explanatory information concerning the conversion and may be accompanied by proxy solicitation materials. (b) […]
Sec. 4. The notice described in section 3 of this chapter: (1) must achieve a minimum score of forty (40) on the Flesch reading ease test or an equivalent score on a comparable test approved by the commissioner; (2) shall be mailed, or provided by some other method or methods as may be approved by […]
Sec. 5. (a) Only members of the converting mutual as of both: (1) the date the converting mutual’s board of directors adopted the resolution proposing the plan of conversion and the amendment to the articles of incorporation; and (2) the record date for the members’ meeting established by the board of directors; are entitled to […]
Sec. 6. Notwithstanding IC 27-1-7-9, a member may vote by proxy only if: (1) the proxy was solicited and obtained from the member for the express purpose of voting on the plan of conversion and the amendment to the articles of incorporation; and (2) the proxy solicitation materials were provided to and approved by the […]
Sec. 7. The proposed plan of conversion and amendment to the converting mutual’s articles of incorporation shall be approved by the members upon receiving the affirmative votes of: (1) at least two-thirds (2/3) of the members voting at the meeting; and (2) if the plan provides for different classes, categories, or groups of eligible members […]
