Indiana Code
Chapter 3. Mutual Insurance Holding Companies
27-14-3-10. Fiduciary Responsibilities and Liability of Officers and Directors

Sec. 10. (a) After the effective date of a plan of reorganization, the officers and directors of the MIHC:
(1) owe the same fiduciary responsibilities to members of the MIHC as the officers and directors of the former MIC owed to members of the former MIC; and
(2) are subject to potential liability to members of the MIHC to the same extent as the officers and directors of the former MIC were to members of the former MIC before the effective date of the plan of reorganization.
(b) An action may be brought to recover for the violation of fiduciary responsibilities under this article under IC 34-11-2-4, or, in the case of fraud, under IC 34-11-2-7.
As added by P.L.5-2000, SEC.4.

Structure Indiana Code