Sec. 5. The aggregate number of shares of stock that may be purchased or held by an employee benefit plan may not exceed ten percent (10%) of the total number of outstanding shares of a reorganized insurer or any stock holding company.
As added by P.L.5-2000, SEC.4.
Structure Indiana Code
Article 14. Mutual Insurance Holding Company Law
Chapter 5. Restrictions on Capital and Other Stock
27-14-5-1. Mihc to Retain Majority of Voting Stock
27-14-5-2. Limits on Aggregate Number of Shares Owned by Directors and Officers
27-14-5-3. Limit on Aggregate Number of Shares Owned by Single Director or Officer
27-14-5-4. Fees or Commissions for Issuance of Stock Prohibited
27-14-5-5. Limit on Aggregate Number of Shares Owned by Employee Benefit Plan
27-14-5-6. Only Publicly Traded Stock to Be Issued to Directors or Officers
27-14-5-9. Factors in Determining Compliance With Ownership Restrictions