Sec. 15. (a) No director, officer, or member of any such corporation or corporations, except as fully expressed in the affidavits described in section 14 of this chapter, may receive any money or other property for aiding, promoting, or assisting in such a merger, consolidation, or reinsurance.
(b) A person who violates this section commits a Class A misdemeanor.
Formerly: Acts 1935, c.162, s.130. As amended by Acts 1978, P.L.2, SEC.2709.
Structure Indiana Code
Article 1. Department of Insurance
Chapter 9. Merger, Consolidation, and Reinsurance
27-1-9-1. Authority to Merge, Consolidate, or Reinsure
27-1-9-2. Effect of Article on Corporate Powers and Kinds of Business
27-1-9-2.5. Definitions Relating to Merger
27-1-9-3. Procedure for Merger
27-1-9-4. Procedure for Consolidation
27-1-9-5. Effective Time of Merger or Consolidation
27-1-9-6. Recording Certified Copies of Certificate of Merger or Consolidation
27-1-9-8. Voting at Meeting of Shareholders, Policyholders, or Members; Proxies; Vote Required
27-1-9-9. Dissenting Shareholders; Payment of Value of Shares; Appraisal
27-1-9-11. Effect of Merger or Consolidation
27-1-9-13. Transfer of Deposit Covering Policies Assumed by Foreign Corporation to Foreign State