Sec. 1. Any stock company or mutual company organized before March 8, 1935, under any of the laws of this state may reorganize under the provisions of this article and thereafter avail itself of the rights, privileges, immunities, and franchises provided by this article by complying with the provisions of this chapter. Nothing in this chapter shall be construed or interpreted as permitting or authorizing the reorganization of a mutual company as a stock company.
Formerly: Acts 1935, c.162, s.139. As amended by P.L.252-1985, SEC.53.
Structure Indiana Code
Article 1. Department of Insurance
Chapter 11. Reorganization of Existing Insurance Companies
27-1-11-1. Authority to Reorganize; Reorganization of Mutual Company as Stock Company Unauthorized
27-1-11-2. Articles; Approval by Directors
27-1-11-4. Articles; Execution; Approval or Disapproval by Department
27-1-11-5. Articles; Presentation to Secretary of State; Duties of Secretary of State