Sec. 8. (a) Subject to subsection (b), "associate" means any of the following:
(1) With respect to a particular person, corporation, business entity, or other organization (other than the applicant or an affiliate of the applicant) for which the person is:
(A) an officer;
(B) a partner; or
(C) directly or indirectly the beneficial owner of at least ten percent (10%) of any class of equity securities.
(2) With respect to an individual who is a director or an officer of the applicant or of any of the applicant's affiliates, a:
(A) spouse; or
(B) member of the immediate family sharing the same household.
(3) With respect to a particular person, a trust or other estate in which the person has a substantial beneficial interest or for which the person serves as trustee or in a similar fiduciary capacity.
(b) The term does not apply to a person that:
(1) has a beneficial interest in; or
(2) serves as a trustee or in a similar fiduciary capacity for;
an employee benefit plan.
As added by P.L.5-2000, SEC.4.
Structure Indiana Code
Article 14. Mutual Insurance Holding Company Law
Chapter 1. General Provisions and Definitions
27-14-1-1.1. Intent of Article; Alternative Organizational Structure
27-14-1-2. "Members' Surplus Protection Principle"
27-14-1-3. Applicability of Definitions
27-14-1-4. "Acting in Concert"
27-14-1-12. "Disinterested Director"
27-14-1-15. "Employee Benefit Plan"
27-14-1-16. "Financial Services Businesses"
27-14-1-17. "Immediate Family"
27-14-1-18. "Internal Revenue Code"
27-14-1-19. "Material Ownership Interest"
27-14-1-21. "Member's Interest"
27-14-1-24. "Mutual Insurance Company" or "Mic"
27-14-1-25. "Mutual Insurance Holding Company" or "Mihc"
27-14-1-27. "Ordinary Course of the Insurance Business"
27-14-1-28. "Outside Director"
27-14-1-29. "Participating Policy"
27-14-1-32. "Plan of Reorganization"
27-14-1-33. "Plan to Issue Stock"
27-14-1-35. "Reorganized Insurer"