Indiana Statutes
§ 27-15-6-4 — Continuation of former mutual
Indiana·Title 27 INSURANCE·Art. 15 DEMUTUALIZATION OF MUTUAL INSURANCE·Ch. 6 Implementation of Approved Plan of Conversion
The former mutual shall be a continuation of the original converting mutual in all of the following respects:
(1)The former mutual shall be recognized as an insurance
company formed under the laws of this state as of the date of the
company's original organization.
(2)The conversion does not in any way annul, modify, or change
any of the original converting mutual's existing suits, claims,
demands, rights, contracts, or other assets, or absolute or
contingent liabilities.
(3)The former mutual shall be vested in all of the rights,
franchises, and interests of the converting mutual in and to every
species of property without any deed or transfer.
(4)The former mutual shall succeed to all the obligations and
liabilities of the converting mutual and retain all rights and
contracts existing
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Legislative History
As added by P.L.94-1999, SEC.3.
Nearby Sections
15
§ 27-1-1-1
Creation; functions§ 27-1-1-2
Insurance commissioner§ 27-1-1-3
Personnel§ 27-1-1-4
Repealed§ 27-1-1-5
Repealed§ 27-1-1.5-10
"Annual Statement Blank"§ 27-1-1.5-11
"Annual Statement Instructions"§ 27-1-1.5-12
"Current Dental Terminology"; "CDT"§ 27-1-1.5-13
"Current Procedural Terminology"; "CPT"§ 27-1-1.5-15
"Financial Analysis Handbook"§ 27-1-1.5-16
"Financial Condition Examiner's Handbook"§ 27-1-1.5-18
"Healthcare Common Procedure Coding System"; "HCPCS"