Indiana § 27-11-4-4 Preliminary certificate of authority; expiration; extension

Indiana Statutes

§ 27-11-4-4 — Preliminary certificate of authority; expiration; extension

Indiana·Title 27 INSURANCE·Art. 11 FRATERNAL BENEFIT SOCIETIES·Ch. 4 Organization

No preliminary certificate of authority granted
under this section shall be valid after one (1) year from its date or after
a further period, not exceeding one (1) year, as may be authorized by
the commissioner upon cause shown, unless the five hundred (500)
applicants required in this chapter have been secured and the
organization has been completed as provided. The articles of
incorporation and all other proceedings under the articles of
incorporation shall become null and void in one (1) year from the date
of the preliminary certificate of authority or at the expiration of the
extended period, unless the society has completed its organization and
received a certificate of authority to do business in Indiana.

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No preliminary certificate of authority granted
under this section shall be valid after one (1) year from its date or after
a further period, not exceeding one (1) year, as may be authorized by
the commissioner upon cause shown, unless the five hundred (500)
applicants required in this chapter have been secured and the
organization has been completed as provided. The articles of
incorporation and all other proceedings under the articles of
incorporation shall become null and void in one (1) year from the date
of the preliminary certificate of authority or at the expiration of the
extended period, unless the society has completed its organization and
received a certificate of authority to do business in Indiana.

Indiana § 27-11-4-4 (Preliminary certificate of authority; expiration; extension) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.