Sec. 8. The department is hereby authorized, in its discretion, to approve or disapprove the articles of incorporation of the proposed company. If the department shall approve the articles of incorporation of the proposed company, the department shall write or stamp, in an appropriate place on each of said triplicate copies of such articles of incorporation, the:

(1) words “Approved by the department of insurance of the state of Indiana”;

Terms Used In Indiana Code 27-1-6-8

  • articles of incorporation: includes both the original articles of incorporation and any and all amendments thereto, except where the original articles of incorporation only are expressly referred to, and includes articles of merger, consolidation and reinsurance, and in case of corporations, heretofore organized, articles of reorganization filed in the office of the secretary of state, and all amendments thereto. See Indiana Code 27-1-2-3
  • Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
  • Department: means "the department of insurance" of this state. See Indiana Code 27-1-2-3
  • Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
(2) date of the approval;

(3) impression of the seal of the department; and

(4) signature of the commissioner.

Formerly: Acts 1935, c.162, s.68. As amended by P.L.146-2015, SEC.20.

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