27-15-2-3. Adoption of Simple Plan of Conversion
Sec. 3. (a) The board of directors of the converting mutual may adopt a simple plan of conversion under this section. The simple plan of conversion must include the following: (1) The distribution to the eligible members, upon the extinguishing of their membership interests, of all of the initial issue of the voting common stock […]
27-15-3-1. Filing With Commissioner
Sec. 1. After the adoption by the board of directors of the resolution proposing the plan of conversion under IC 27-15-2 and the amendment to its articles of incorporation, the converting mutual shall file with the commissioner an application for approval of the plan and amendment. As added by P.L.94-1999, SEC.3.
27-15-3-2. Content of Application
Sec. 2. The application must contain the following information, together with such additional information as the commissioner may require: (1) The plan of conversion and a certificate of the secretary of the converting mutual certifying the adoption of the plan by the board of directors. (2) A statement of the reasons for the proposed conversion […]
27-15-3-3. Content Excepted From Simple Plan of Conversion
Sec. 3. Notwithstanding section 2 of this chapter, the opinion described in section 2(10) of this chapter is not required under this chapter if the converting mutual utilizes a simple plan of conversion. As added by P.L.94-1999, SEC.3.
27-15-3-4. Actuarial Opinion Requirements
Sec. 4. The actuarial opinion required by this chapter shall be: (1) provided and signed by a qualified and independent actuary who is a member of the American Academy of Actuaries; (2) given in accordance with professional standards and practices generally accepted by the actuarial profession and those other factors as the actuary believes are […]
27-15-4-1. Commissioner’s Determination of Application Completeness; Designation of Date for Public Hearing
Sec. 1. (a) The commissioner shall determine, within forty-five (45) days after the later of: (1) the submission of an application for approval of a plan of conversion; or (2) the submission of any amendment to the application; whether the application is complete. (b) Upon determining that the application is complete, the commissioner shall designate […]
27-15-4-2. Purpose of Public Hearing
Sec. 2. The commissioner shall hold a public hearing upon the plan of conversion and the amendment to the articles of incorporation. The purpose of the public hearing shall be to receive comments and information to aid the commissioner in considering and approving or disapproving the application for approval of the plan of conversion and […]
27-15-4-3. Commencement of Hearing; Postponement
Sec. 3. The public hearing shall commence within sixty (60) days after the date on which the commissioner determines the application is complete, unless the converting mutual requests, and the commissioner agrees to, a longer period. In the event that an amendment to the plan of conversion or the application for approval is filed with […]
27-15-4-4. Notice of Hearing
Sec. 4. (a) The converting mutual shall provide at least thirty (30) days prior written notice of the hearing to its members and other policyholders as of the date its board of directors adopted the resolution proposing the plan of conversion. (b) The notice must include the following: (1) A brief statement of the subject […]
27-15-4-5. Publication of Notice
Sec. 5. (a) The converting mutual shall cause notice of the public hearing to be published in a newspaper of general circulation in the city where the principal office of the converting mutual is located, in Indianapolis, and in any other city specified by the commissioner at the time the commissioner determines that the application […]