Sec. 8. If a proceeding is pending against an MIC that is the subject of a plan of reorganization under this article:
(1) the proceeding may be continued after the effective date as if the reorganization had not occurred; or
(2) the reorganized insurer that is the successor to the MIC's business may be substituted in the proceeding for the MIC;
except that the MIHC resulting from the plan of reorganization shall be substituted for the MIC and any subsidiaries of the MIC in all proceedings involving any claim described in section 7(b) of this chapter.
As added by P.L.5-2000, SEC.4.
Structure Indiana Code
Article 14. Mutual Insurance Holding Company Law
Chapter 7. Miscellaneous Provisions
27-14-7-1. Supplemental Nature of Article; Applicability of Other Insurance Statutes
27-14-7-2. Limitation of Actions
27-14-7-3. Severability of Provisions
27-14-7-4. Judicial Review of Action of Commissioner; Mandamus
27-14-7-5. Treatment of Confidential Information
27-14-7-7. Reorganized Insurer or Mihc Having All Rights and Obligations of Mic
27-14-7-8. Effect of Reorganization on Pending Actions
27-14-7-9. Conversion of Mihc to Stock Company
27-14-7-10. Experts Hired by Commissioner
27-14-7-12. Reorganization of Domestic Mic With Foreign Mutual Holding Company
27-14-7-13. Acquisition of Foreign Mic by Existing Mihc; Granting Membership Interests
27-14-7-14. Concurrent Reorganization of Multiple Mics Into Single Mihc
27-14-7-15. Reorganization of Mihc With Foreign Mutual Insurance Holding Company