§ 27-14.5-1-5 — "Acting in concert"

Indiana § 27-14.5-1-5

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 14.5: MUTUAL INSURANCE HOLDING COMPANY
• Ch. 1: General Provisions and Definitions

Text

(a) Subject to subsection (b), "acting in
concert" means:
(1) a knowing participation in a joint activity whether or not under
an express agreement;
(2) interdependent conscious parallel action toward a common
goal under an express agreement or otherwise; or
(3) a combination or pooling of voting interests or other interests
in the securities of any person for a common purpose under any
contract, understanding, relationship, agreement, or other
arrangement, written or otherwise.
(b) An employee benefit plan is acting in concert with:
(1) its trustee; or
(2) a person who serves in a capacity similar to a trustee;
solely for the purpose of determining whether capital stock held by the
trustee or the person in a similar capacity and capital stock held by the
plan will be aggregated.

Legislative History

As added by P.L.226-2023, SEC.30.