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

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.