Indiana § 27-1-11-1 Authority to reorganize; reorganization of mutual company as stock
company unauthorized

Indiana Statutes

§ 27-1-11-1 — Authority to reorganize; reorganization of mutual company as stock company unauthorized

Indiana·Title 27 INSURANCE·Art. 1 DEPARTMENT OF INSURANCE·Ch. 11 Reorganization of Existing Insurance Companies

Any stock company or mutual company
organized before March 8, 1935, under any of the laws of this state may
reorganize under the provisions of this article and thereafter avail itself
of the rights, privileges, immunities, and franchises provided by this
article by complying with the provisions of this chapter. Nothing in this
chapter shall be construed or interpreted as permitting or authorizing
the reorganization of a mutual company as a stock company.
Formerly: Acts 1935, c.162, s.139. As amended by
P.L.252-1985, SEC.53.

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Any stock company or mutual company
organized before March 8, 1935, under any of the laws of this state may
reorganize under the provisions of this article and thereafter avail itself
of the rights, privileges, immunities, and franchises provided by this
article by complying with the provisions of this chapter. Nothing in this
chapter shall be construed or interpreted as permitting or authorizing
the reorganization of a mutual company as a stock company.
Formerly: Acts 1935, c.162, s.139. As amended by
P.L.252-1985, SEC.53.

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