Indiana Code 27-14.5-3-2. Required vote of board of directors in favor of issuing stock
Current as of: 2024 | Check for updates
|
Other versions
Sec. 2. A plan to issue stock under this chapter must be adopted:
(2) in the case of a plan to issue shares of stock that is not concurrent with the formation of the mutual insurance holding company, by a vote of not less than two-thirds (2/3) of the members of the board of directors of the mutual insurance holding company and the reorganized insurer or intermediate stock holding company proposing to issue the stock.
(1) by a vote of not less than two-thirds (2/3) of the members of the board of directors of the mutual insurance company; or
As added by P.L.226-2023, SEC.30.