§ 27-1-19-2 — Articles of reorganization; adoption by directors; contents

Indiana § 27-1-19-2

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 19: Reorganization of Foreign Companies Into Domestic

Text

(a) The board of directors of any such company
desiring to reorganize under this article shall, after full compliance with
the laws of state, territory, or insular possession of the United States,
or the District of Columbia, under which the company was
incorporated or organized, by a resolution adopted by a majority vote
of the members of such board, approve and adopt articles of
reorganization setting forth:
(1) the name of the company;
(2) the location of its principal office and the location of its
proposed principal office in this state;
(3) the date of its incorporation or organization;
(4) a designation of the statute under which it was organized;
(5) a declaration that it accepts all of the terms and provisions of
this article; and
(6) a restatement of such provisions of its articles of incorporation
or association as may be deemed advisable so long as the
provisions restated would have been authorized by this article as
provisions of original articles of incorporation for a company
organized under this article.
(b) Upon the approval and adoption thereof by the board of
directors, the articles of reorganization shall be executed and signed in
triplicate originals by the president and the secretary of the company,
and acknowledged and sworn to before an officer authorized to take the
acknowledgments of deeds by the officers signing the same.
Formerly: Acts 1935, c.162, s.241. As amended by
P.L.252-1985, SEC.82.