Indiana § 27-3-1-2 Authority to adopt plan of exchange

Indiana Statutes

§ 27-3-1-2 — Authority to adopt plan of exchange

Indiana § 27-3-1-2

Title 27INSURANCE

Art. 3CONSOLIDATIONS AND REORGANIZATION

Ch. 1Exchange of Securities

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Bluebook

Ind. Code § 27-3-1-2 (2026).

Text

Any domestic stock insurance company (referred to in this chapter as the "domestic company") may adopt a plan of exchange providing for the exchange by its shareholders of their stock in the domestic company for:

(i)shares of stock issued by any other stock insurance corporation organized or reorganized under the provisions of IC 27-1 or any statute enacted prior to March 8, 1935, or any stock corporation organized under the provisions of IC 23-1 or any foreign stock corporation (such other corporation is referred to in this chapter as the "acquiring corporation");

(ii)other securities issued by the acquiring corporation;

(iii)cash;

(iv)other consideration; or

(v)any combination of such stock, such other securities, cash, or other consideration. Formerly: Acts 1967, c.61, s.2. As amen

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Any domestic stock insurance company
(referred to in this chapter as the "domestic company") may adopt a
plan of exchange providing for the exchange by its shareholders of
their stock in the domestic company for:
(i) shares of stock issued by any other stock insurance corporation
organized or reorganized under the provisions of IC 27-1 or any
statute enacted prior to March 8, 1935, or any stock corporation
organized under the provisions of IC 23-1 or any foreign stock
corporation (such other corporation is referred to in this chapter
as the "acquiring corporation");
(ii) other securities issued by the acquiring corporation;
(iii) cash;
(iv) other consideration; or
(v) any combination of such stock, such other securities, cash, or
other consideration.
Formerly: Acts 1967, c.61, s.2. As amended by P.L.252-1985,
SEC.139.