Sec. 4. No preliminary certificate of authority granted under this section shall be valid after one (1) year from its date or after a further period, not exceeding one (1) year, as may be authorized by the commissioner upon cause shown, unless the five hundred (500) applicants required in this chapter have been secured and the organization has been completed as provided. The articles of incorporation and all other proceedings under the articles of incorporation shall become null and void in one (1) year from the date of the preliminary certificate of authority or at the expiration of the extended period, unless the society has completed its organization and received a certificate of authority to do business in Indiana.
As added by P.L.262-1985, SEC.1. Amended by P.L.136-2018, SEC.200.
Structure Indiana Code
Article 11. Fraternal Benefit Societies
27-11-4-1. Application of Chapter
27-11-4-2. Organization of Fraternal Benefit Society; Articles of Incorporation
27-11-4-4. Preliminary Certificate of Authority; Expiration; Extension
27-11-4-5. Solicitation of Members; Liabilities Incurred Upon Receipt of Preliminary Certificate