§ 27-1-6-12 — Commencement of corporate existence; powers

Upon the issuance of the permit for
completion of organization by the department, the corporate existence
shall begin, and thereupon such incorporators and their associates shall
become a body corporate with power to sue and be sued, contract and
be contracted with, adopt a seal, and do such other acts, subject to the
provisions and to the restrictions of this article, as shall be needful to
accomplish the purpose of completing its organization, provided, that
such company shall not issue policies or enter into contracts of
insurance until it shall have received the certificate of the department
authorizing it so to do.
Formerly: Acts 1935, c.162, s.72. As amended by P.L.252-1985,
SEC.22.