Indiana Code 27-14.5-2-2. Different means of reorganizing into a mutual insurance holding company
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Sec. 2. The reorganization of a mutual insurance company or two (2) or more mutual insurance companies into a mutual insurance holding company structure under this chapter may be accomplished by any means approved by the commissioner, including the following:
(2) The amendment or restatement of the articles and bylaws of any company.
(1) The establishment of at least one (1) company.
Terms Used In Indiana Code 27-14.5-2-2
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(3) The transfer or acquisition of any or all of the assets and liabilities of any company.
(4) The transfer or acquisition of any or all of the capital stock of any company.
(5) The merger of two (2) or more companies.
(6) The merger of a mutual insurance company’s members into any existing mutual insurance holding company with continued corporate existence of the reorganized mutual insurance company as a reorganized insurer.
As added by P.L.226-2023, SEC.30.