§ 27-15-4-4 — Notice of hearing

Indiana § 27-15-4-4

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 15: DEMUTUALIZATION OF MUTUAL INSURANCE
• Ch. 4: Public Hearing and Commissioner's Determination

Text

(a) The converting mutual shall provide at least
thirty (30) days prior written notice of the hearing to its members and
other policyholders as of the date its board of directors adopted the
resolution proposing the plan of conversion.
(b) The notice must include the following:
(1) A brief statement of the subject of the hearing, the date, time,
and location of the hearing.
(2) A description of members eligible to vote on the plan of
conversion and the amendment to the articles of incorporation.
(3) A statement that the members and policyholders may examine,
at the department, the public record portion of the application
submitted to the commissioner.
(4) The address and telephone number of the converting mutual
and, if different, the former mutual.
(c) The converting mutual shall provide the commissioner with the
proposed form and content of the notice not less than fifteen (15) days
before notice is to be provided to the members and policyholders, and
the commissioner shall approve or disapprove the form and content of
the notice within ten (10) days after its submission to the
commissioner. The notice to members and other policyholders shall,
after approval by the commissioner, be provided by mail or other
means approved by the commissioner.

Legislative History

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