US Lawyer Database

27-15-11-5. Designation of Assets

Sec. 5. The assets assigned to a closed block shall be specified in the plan of operation and must consist of: (1) a list of designated assets of the converting mutual’s general account or specified segments of the converting mutual’s general account, which list shall change periodically to reflect the acquisition and disposition of assets; […]

27-15-11-6. Methods for Assignment or Designation of Assets

Sec. 6. The plan of operation must specify the following: (1) The method of assignment of closed block assets referred to in section 5 of this chapter that is being used. (2) The methods by which the designations of assets or portions of assets are changed during the course of closed block operations. As added […]

27-15-11-8. Annual Reports and Reviews of Former Mutual

Sec. 8. The former mutual shall: (1) submit to the commissioner annual reports, in a form acceptable to the commissioner, that account for and describe the operations of the closed block; and (2) as specified in the plan of operation, provide at least every three (3) years for reviews of, and reports and opinions on, […]

27-15-12-1. Delay of Distribution

Sec. 1. All or part of the consideration to be distributed to some or all of the eligible members may be delayed by more than six (6) months following the effective date of the plan of conversion if: (1) the plan of conversion includes a provision for the establishment of a trust for that purpose; […]

27-15-13-1. Acquisition of Beneficial Ownership; Limitations

Sec. 1. (a) Except as specifically provided in a plan of conversion, for five (5) years following the effective date of the conversion no person or persons acting in concert (other than the former mutual, any parent company, or any employee benefit plans or trusts sponsored by the former mutual or a parent company) shall […]

27-15-13-2. Acquisition of Beneficial Ownership; Factors for Approval Procedure

Sec. 2. (a) The commissioner may not approve an acquisition under section 1(a) of this chapter unless the commissioner finds that: (1) the requirements of IC 27-1-23-2(e) will be satisfied; (2) the acquisition will not frustrate the plan of conversion or the amendment to the articles of incorporation as approved by the members and the […]

27-15-13-3. Voting of Securities Subject to Acquisition

Sec. 3. A security that is: (1) the subject of any agreement or arrangement regarding acquisition; or (2) held, acquired, or is to be acquired; in contravention of this chapter or of an order of the commissioner, may not be voted at any shareholders’ meeting. Any action of shareholders requiring the affirmative vote of a […]