Indiana § 27-15-1-2 Conversion generally

Indiana Statutes

§ 27-15-1-2 — Conversion generally

Indiana·Title 27 INSURANCE·Art. 15 DEMUTUALIZATION OF MUTUAL INSURANCE·Ch. 1 General Provisions and Definitions

(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).

Free access — add to your briefcase to read the full text and ask questions with AI

(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).

Indiana § 27-15-1-2 (Conversion generally) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.