Sec. 8. Neither a stock holding company nor a reorganized insurer may pay dividends or make other distributions with respect to its stock to its shareholders if the reorganized insurer has failed to pay policyholder dividends under IC 27-14-3-11.
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