Indiana Code
Chapter 7. General Corporate Powers and Responsibilities of Insurance Companies
27-1-7-12. Directors; Attendance Record and Report; Record of Communications; Annual Examination and Report of Condition

Sec. 12. In addition to such other duties as may be imposed upon the directors by any other provisions of this article, such directors shall keep a record of the attendance of directors at meetings of the board, and shall make a report showing the names of the directors, the number of meetings of the board, regular and special, the number of meetings attended, and the number of meetings from which each director was absent, which report shall be read at and incorporated in the minutes of the annual meeting of the shareholders, members, or policyholders. Such directors, at such times as they are meeting as a board of directors, shall also require the secretary of such board, or some other duly designated agent, to make such communications from the department as the department designates a matter of record in the minutes of the meetings of such board of directors. The board of directors, a committee therefrom, or the auditor, actuary, or comptroller of such corporation shall examine the corporation once each year and submit a complete statement of the condition of such corporation to the department. Such report of examination, if made by other than the board of directors or a committee thereof, shall be approved by the board of directors before the same is submitted to the department.
Formerly: Acts 1935, c.162, s.90. As amended by P.L.252-1985, SEC.29.

Structure Indiana Code

Indiana Code

Title 27. Insurance

Article 1. Department of Insurance

Chapter 7. General Corporate Powers and Responsibilities of Insurance Companies

27-1-7-1. "Corporation" Defined

27-1-7-2. Capacity and Authority to Act; General Rights, Privileges, and Powers; Excluded Powers

27-1-7-3. Principal Office; Change of Location

27-1-7-4. Shares of Stock; Classes; Sale for Less Than Par; Shareholders' Liability; Preemptive Rights

27-1-7-5. Stock Certificate; Contents; Transferability

27-1-7-6. Bylaws

27-1-7-7. Meetings of Shareholders, Members, or Policyholders; Location; Annual Meeting; Special Meetings; Notice; Quorum; Actions Taken Without Meeting

27-1-7-8. Voting Rights of Shareholders; Shares That Cannot Be Voted; Voting by Particular Shareholders; Proxy Votes

27-1-7-9. Voting Rights of Policyholders and Members; Proxy Votes

27-1-7-9.5. Shareholders' Derivative Proceedings; Procedure

27-1-7-10. Board of Directors; General Provisions; Management of Business; Executive Committee; Removal of Directors

27-1-7-11. Citizenship and Residence Qualifications of Directors

27-1-7-12. Directors; Attendance Record and Report; Record of Communications; Annual Examination and Report of Condition

27-1-7-12.5. Directors; Good Faith Discharge of Duties; Liability; Conflict of Interest; Authorization of Unlawful Payments to Shareholders

27-1-7-13. Officers; Secretary; Duties; Resignation; Removal; Contract Rights

27-1-7-14. Bonding Officers Having Access to Money or Securities; Blanket Bond

27-1-7-15. Loans to or Borrowing by Directors or Officers; Offense; Exceptions

27-1-7-16. Books and Records to Be Kept at Principal Office

27-1-7-17. Restrictions on Dividend Payments

27-1-7-18. Repealed

27-1-7-19. Mutual or Stock Companies; Borrowing for Surplus Funds

27-1-7-20. Authority of Corporations, Boards, and Associations to Insure With Mutual Insurance Company

27-1-7-21. Mutual Companies; Statement of Maximum Premium in Policy; Limitation of Liability for Single Risk; Reinsurance Requirements

27-1-7-22. Vouchers for Disbursements

27-1-7-23. Annual or Other Required Statements; Material False Statement