Sec. 16. (a) Before the commissioner issues a permit for completion of organization under subsection (b):
(1) a public hearing must have been conducted under this chapter;
(2) the commissioner must have issued notice to the applicant that the commissioner has approved the plan of reorganization of the applicant under section 10 of this chapter; and
(3) the commissioner must have received the minutes of the meeting of the members at which the plan was approved reflecting that the plan of reorganization was on the agenda and the plan was approved.
(b) After the events referred to in subsection (a), the commissioner shall issue:
(1) a permit for completion of organization of the MIHC; and
(2) in the case of:
(A) a newly organized domestic insurance company, a permit for completion of organization as provided in IC 27-1-6-11; or
(B) amended articles of incorporation of a domestic insurance company, an amended certificate of authority as provided in IC 27-1-8-9.
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