Sec. 2. The application for approval of a plan of conversion and an amendment to the articles of incorporation described in section 1 of this chapter must include a description of how the converting mutual will meet the statutory surplus and capital requirements on the date the plan of conversion is completed, which may involve the issuance and sale directly to one (1) or more purchasers of the capital stock of the former mutual or of a parent company.
As added by P.L.94-1999, SEC.3.
Structure Indiana Code
Article 15. Demutualization of Mutual Insurance Companies
Chapter 14. Modified Conversion Requirements for Companies in Hazardous Financial Condition
27-15-14-1. Qualifications for Modified Conversion; Waivers or Modifications of Notice Requirements
27-15-14-2. Application for Approval; Required Descriptions
27-15-14-3. Approval of Application; Public Hearing
27-15-14-4. Supplemental Requirements for Modified Conversion