Indiana § 27-5.1-4-2 Companies existing on June 30, 2003; extended company election;
amended certificate of authority

Indiana Statutes

§ 27-5.1-4-2 — Companies existing on June 30, 2003; extended company election; amended certificate of authority

Indiana § 27-5.1-4-2

Title 27INSURANCE

Art. 5.1FARM MUTUAL INSURANCE COMPANIES

Ch. 4Extended Farm Mutual Insurance Companies

This text of Indiana § 27-5.1-4-2 (Companies existing on June 30, 2003; extended company election; amended certificate of authority) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 27-5.1-4-2 (2026).

Text

(a)A farm mutual insurance company that was authorized to provide insurance in Indiana on June 30, 2003, may elect to obtain a certificate of authority as an extended company.

(b)An election under subsection (a) is made by:

(1)an affirmative vote by the board of directors of the farm mutual insurance company:

(A)on a resolution to convert to an extended company; and

(B)on an amendment of the articles of incorporation of the farm mutual insurance company; and

(2)filing:

(A)the resolution;

(B)the amended articles of incorporation; and

(C)other information that the commissioner considers necessary for review; with the commissioner.

(c)The commissioner shall, upon:

(1)receiving a filing specified under subsection (b)(2); and

(2)determining that the farm mutual insurance company is

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(a) A farm mutual insurance company that was
authorized to provide insurance in Indiana on June 30, 2003, may elect
to obtain a certificate of authority as an extended company.
(b) An election under subsection (a) is made by:
(1) an affirmative vote by the board of directors of the farm
mutual insurance company:
(A) on a resolution to convert to an extended company; and
(B) on an amendment of the articles of incorporation of the
farm mutual insurance company; and
(2) filing:
(A) the resolution;
(B) the amended articles of incorporation; and
(C) other information that the commissioner considers
necessary for review;
with the commissioner.
(c) The commissioner shall, upon:
(1) receiving a filing specified under subsection (b)(2); and
(2) determining that the farm mutual insurance company is in
compliance with the requirements of this article and other
applicable law;
issue an amended certificate of authority to the farm mutual insurance
company authorizing the farm mutual insurance company as an
extended company.
(d) A farm mutual insurance company, after receiving an amended
certificate of authority under subsection (c):
(1) is subject to the requirements of this chapter; and
(2) may commence the business of insurance as an extended
company.