Sec. 10. (a) Not more than one hundred eighty (180) days after the filing of the application and submission of all other information requested by the commissioner relative to the plan, or a longer period if extended by the commissioner for good cause, the commissioner shall approve or disapprove the plan of reorganization. The commissioner's approval of the plan must be conditioned upon:
(1) the approval of the plan by the eligible members under this chapter; and
(2) the requirements of sections 16 and 17 of this chapter.
(b) The commissioner shall fully consider any comments received at the public hearing under IC 4-22-2-27 before issuing an order under subsection (a).
As added by P.L.5-2000, SEC.4.
Structure Indiana Code
Article 14. Mutual Insurance Holding Company Law
Chapter 2. Mutual Insurance Company Reorganization
27-14-2-1. Prerequisites to Reorganization
27-14-2-2. Methods of Reorganization
27-14-2-3. Adoption of Plan of Reorganization by Directors
27-14-2-4. Application for Reorganization
27-14-2-5. Requirements for Plan of Reorganization
27-14-2-6. Amendment or Termination of Plan of Reorganization
27-14-2-8. Notice of Hearing to Members and Policyholders
27-14-2-9. Prerequisites to Approval of Plan of Reorganization
27-14-2-10. Approval or Disapproval of Plan of Reorganization by Commissioner
27-14-2-11. Notice of Approval or Disapproval
27-14-2-12. Submitting Plan of Reorganization to Members
27-14-2-13. Voting on Plan of Reorganization
27-14-2-14. Approval of Plan of Reorganization by Members
27-14-2-15. Filing Minutes of Meeting at Which Plan Approved
27-14-2-16. Issuance of Permit for Completion of Organization
27-14-2-17. Effectiveness of Plan of Reorganization
27-14-2-18. Organization of Insurer Under Plan of Reorganization
27-14-2-19. Amendment of Articles of Incorporation of Insurer Under Plan of Reorganization