§ 27-1-9-1 — Authority to merge, consolidate, or reinsure

Indiana § 27-1-9-1

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 9: Merger, Consolidation, and Reinsurance

Text

Subject to the provisions of this article and IC 27-6-1.1, any domestic corporation is authorized and empowered to:
(1) merge or consolidate with any other domestic company;
(2) merge or consolidate with any foreign company, including any
foreign company organized as a stock, mutual, nonstock,
nonprofit, fraternal benefit, mutual benefit, or medical or hospital
service company under the insurance or other laws of the foreign
company's state of domicile, if the surviving company meets the
requirements for authorization to engage in the insurance business
in this state, and provided such merger or consolidation is
authorized by the laws of the state, or territory in which such
foreign company is organized;
(3) subject to the requirements of IC 27-6-1.1-5, reinsure under an
agreement of assumption reinsurance all or a portion of its risks
with another domestic company or with any foreign or alien
company authorized to engage in the insurance business in this
state; and
(4) subject to the requirements of IC 27-6-1.1-5, reinsure under an
agreement of assumption reinsurance all or a portion of the risks
of another domestic company or of a foreign or alien company
whether such company is or is not authorized to engage in the
insurance business in this state.
Formerly: Acts 1935, c.162, s.114; Acts 1941, c.115, s.1; Acts
1969, c.164, s.2. As amended by P.L.260-1983, SEC.2; P.L.185-1997,
SEC.3.