Indiana § 27-14.5-2-4 Required vote of board of directors in favor of plan of reorganization

Indiana Statutes

§ 27-14.5-2-4 — Required vote of board of directors in favor of plan of reorganization

Indiana § 27-14.5-2-4

Title 27INSURANCE

Art. 14.5MUTUAL INSURANCE HOLDING COMPANY

Ch. 2Mutual Insurance Company Reorganization

This text of Indiana § 27-14.5-2-4 (Required vote of board of directors in favor of plan of reorganization) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 27-14.5-2-4 (2026).

Text

A plan of reorganization under this chapter must be adopted by:

(1)a vote of not less than two-thirds (2/3) of the members of the board of directors of the mutual insurance company; or

(2)in the case of the formation of any intermediate stock insurance holding company that is not concurrent with the formation of the mutual insurance holding company, by a vote of not less than two-thirds (2/3) of the members of the board of directors of the mutual insurance holding company.

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A plan of reorganization under this chapter
must be adopted by:
(1) a vote of not less than two-thirds (2/3) of the members of the
board of directors of the mutual insurance company; or
(2) in the case of the formation of any intermediate stock
insurance holding company that is not concurrent with the
formation of the mutual insurance holding company, by a vote of
not less than two-thirds (2/3) of the members of the board of
directors of the mutual insurance holding company.