Sec. 3. The commissioner shall approve the application and permit the conversion under a plan of conversion and an amendment to the articles of incorporation described in this chapter if the commissioner finds, following a public hearing, that the plan of conversion and the amendment to the articles of incorporation are in the best interests of the members and policyholders of the converting mutual, without regard to their membership interests.
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