Indiana Code 27-15-5-5. Members entitled to vote
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Sec. 5. (a) Only members of the converting mutual as of both:
(2) the record date for the members’ meeting established by the board of directors;
(1) the date the converting mutual’s board of directors adopted the resolution proposing the plan of conversion and the amendment to the articles of incorporation; and
Terms Used In Indiana Code 27-15-5-5
- 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.
are entitled to vote on the proposed plan of conversion and the amendment to the articles of incorporation of the converting mutual.
(b) Each member is entitled to cast only one (1) vote, irrespective of the number or value of policies held, unless the converting mutual’s articles of incorporation provide otherwise.
As added by P.L.94-1999, SEC.3.