Sec. 2. A plan to issue stock under this chapter must be adopted:
(1) in the case of a plan to issue stock that is concurrent with the formation of the MIHC, by the board of directors of the MIC; or
(2) in the case of a plan to issue shares of stock that is not concurrent with the formation of the MIHC, by the board of directors of the MIHC and reorganized insurer or stock holding company proposing to issue the stock.
As added by P.L.5-2000, SEC.4.
Structure Indiana Code
Article 14. Mutual Insurance Holding Company Law
Chapter 4. Issuance of Capital Stock
27-14-4-1. Applicability of Chapter; Issuance of Stock
27-14-4-2. Adoption of Plan to Issue Stock
27-14-4-3. Amendment or Withdrawal of Plan
27-14-4-4. Application to Issue Stock
27-14-4-5. Mandatory Provisions of Plan to Issue Stock
27-14-4-6. Permitted Provisions of Plan to Issue Stock
27-14-4-7. Stock Option as Compensation of Officer or Director Prohibited