§ 27-14.5-3-1 — Issuance of stock by reorganized insurer or intermediate stock holding company

Indiana § 27-14.5-3-1

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 14.5: MUTUAL INSURANCE HOLDING COMPANY
• Ch. 3: Issuance of Capital Stock

Text

(a) Subject to subsection (c), a reorganized
insurer may issue shares of any class or type of stock permitted under
this title.
(b) Subject to subsection (c), an intermediate stock holding
company may issue any class or type of stock permitted by the law
under which the intermediate stock holding company is organized.
(c) A reorganized insurer and an intermediate stock holding
company may issue shares of stock to a person or entity other than:
(1) the mutual insurance holding company of which it is a
subsidiary; or
(2) an intermediate stock holding company that is a subsidiary of
the mutual insurance holding company referred to in subdivision
(1);
only in compliance with this chapter.

Legislative History

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