Indiana § 27-15-1-2 Conversion generally

Indiana Statutes

§ 27-15-1-2 — Conversion generally

Indiana § 27-15-1-2

Title 27INSURANCE

Art. 15DEMUTUALIZATION OF MUTUAL INSURANCE

Ch. 1General Provisions and Definitions

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Bluebook

Ind. Code § 27-15-1-2 (2026).

Text

(a)Any domestic mutual insurance company that:

(1)maintains its executive offices in Indiana; and

(2)employs at least five hundred (500) persons or a substantial percentage of its workforce in Indiana; may, by amendment to its articles of incorporation, convert to a stock insurance company by means of a plan of conversion described in IC 27-15-2-2 or a simple plan of conversion described in IC 27-15-2-3 and IC 27-1-8.

(b)The commissioner shall determine whether a mutual insurance company meets the requirements of subsection (a)(2).

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(a) Any domestic mutual insurance company
that:
(1) maintains its executive offices in Indiana; and
(2) employs at least five hundred (500) persons or a substantial
percentage of its workforce in Indiana;
may, by amendment to its articles of incorporation, convert to a stock
insurance company by means of a plan of conversion described in IC 27-15-2-2 or a simple plan of conversion described in IC 27-15-2-3 and
IC 27-1-8.
(b) The commissioner shall determine whether a mutual insurance
company meets the requirements of subsection (a)(2).