27-15-5-7. Vote Required for Approval
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 […]
27-15-6-1. Consummation of Plan
Sec. 1. After the proposed plan of conversion and amendment to the converting mutual’s articles of incorporation are approved by the commissioner and approved by the members under this article, the converting mutual may proceed to consummate the plan and comply with IC 27-1-8. As added by P.L.94-1999, SEC.3.
27-15-6-2. Effective Date
Sec. 2. The plan of conversion and the amendment to the articles of incorporation of the converting mutual become effective upon the date and time of return of the articles of amendment by the secretary of state as provided in IC 27-1-8-8, unless a later date and time are specified in the articles of amendment, […]
27-15-6-3. Effect of Plan and Amendment
Sec. 3. When the plan of conversion and the amendment to the articles of incorporation of the converting mutual become effective: (1) the converting mutual shall: (A) be converted from a domestic mutual insurance company to a domestic stock insurance company; and (B) have all the rights, privileges, immunities, and powers and be subject to […]
27-15-6-4. Continuation of Former Mutual
Sec. 4. The former mutual shall be a continuation of the original converting mutual in all of the following respects: (1) The former mutual shall be recognized as an insurance company formed under the laws of this state as of the date of the company’s original organization. (2) The conversion does not in any way […]
27-15-6-5. Compliance With Capital and Surplus Requirements
Sec. 5. The former mutual shall comply with the minimum capital and surplus requirements applicable to domestic stock insurance companies as though the former mutual was organized as a stock insurance company on its original date of organization. As added by P.L.94-1999, SEC.3.
27-15-7-1. Applicability of Chapter
Sec. 1. Except as otherwise specifically provided in this chapter, IC 5-14 applies to all filings made under this article. As added by P.L.94-1999, SEC.3.
27-15-7-2. Purpose; Effect of Confidentiality
Sec. 2. Filings, information, and documents made with or provided to the commissioner under this article may include information that might be damaging to a converting mutual or its affiliates if made available to competitors. Subject to section 3 of this chapter, all documents containing trade secrets of a converting mutual or its affiliates and […]
27-15-7-3. Disclosure of Confidential Information
Sec. 3. (a) Subject to subsection (c), the commissioner may disclose to any person all or part of any document marked “confidential” in the commissioner’s possession as the result of being filed under this article if the following conditions are met: (1) The commissioner must give written notice of the proposed disclosure to the converting […]
27-15-8-1. Forms of Consideration
Sec. 1. The consideration to be distributed to the eligible members shall be: (1) cash; (2) stock or other securities of the former mutual or of the parent company; (3) additional paid up insurance or annuity benefits; (4) any combination of the forms of consideration listed in this section; or (5) other forms of consideration […]