Indiana § 27-3-3-1 Definitions

Indiana Statutes

§ 27-3-3-1 — Definitions

Indiana·Title 27 INSURANCE·Art. 3 CONSOLIDATIONS AND REORGANIZATION·Ch. 3 Acquisition of Certain Minority Interests in Subsidiary

As used in this chapter:

(a)"Commissioner" means the insurance commissioner of this state.

(b)"Domestic insurer" means a stock insurance company organized under the laws of this state.

(c)"Parent corporation" means a corporation organized for any purpose under the laws of this state or any other jurisdiction that owns, directly or indirectly, at least ninety percent (90%) of the issued and outstanding voting stock of a domestic insurer.

(d)"Subsidiary insurer" means a domestic insurer, at least ninety percent (90%) of the issued and outstanding voting stock of which is owned by a parent corporation.

(e)"Voting stock" means shares issued by a domestic insurer, the record holders of which are entitled to vote at each election of directors of the domestic insurer, and securities converti

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As used in this chapter:
(a) "Commissioner" means the insurance commissioner of this
state.
(b) "Domestic insurer" means a stock insurance company
organized under the laws of this state.
(c) "Parent corporation" means a corporation organized for any
purpose under the laws of this state or any other jurisdiction that
owns, directly or indirectly, at least ninety percent (90%) of the
issued and outstanding voting stock of a domestic insurer.
(d) "Subsidiary insurer" means a domestic insurer, at least ninety
percent (90%) of the issued and outstanding voting stock of which
is owned by a parent corporation.
(e) "Voting stock" means shares issued by a domestic insurer, the
record holders of which are entitled to vote at each election of
directors of the domestic insurer, and securities convertible into
or evidencing a right to acquire the shares.
Formerly: Acts 1973, P.L.278, SEC.1. As amended by
P.L.245-1989, SEC.2.