Indiana Code
Chapter 2. Mutual Insurance Company Reorganization
27-14-2-3. Adoption of Plan of Reorganization by Directors

Sec. 3. (a) A plan of reorganization must be adopted by the board of directors of the MIC.
(b) For a plan of reorganization to be adopted by the board of directors of an MIC, at least seventy-five percent (75%) of the members of the board of directors must vote in favor of the adoption.
As added by P.L.5-2000, SEC.4.