Indiana Statutes

§ 27-15-1-7 — "Eligible member"

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

"Eligible member" means a person who:

(1)is a member of the converting mutual on the date the converting mutual's board of directors adopts a resolution proposing a plan of conversion and an amendment to the articles of incorporation; and
(2)continues to be a member of the converting mutual on the effective date of the conversion.

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Legislative History

As added by P.L.94-1999, SEC.3.

Nearby Sections

15
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