Sec. 7. The proposed plan of conversion and amendment to the converting mutual's articles of incorporation shall be approved by the members upon receiving the affirmative votes of:
(1) at least two-thirds (2/3) of the members voting at the meeting; and
(2) if the plan provides for different classes, categories, or groups of eligible members to receive different forms of consideration, other than as permitted by IC 27-15-8-4(b)(2) or IC 27-15-12, at least two-thirds (2/3) of the members voting at the meeting who would receive each different form of consideration, voting as a class.
As added by P.L.94-1999, SEC.3.
Structure Indiana Code
Article 15. Demutualization of Mutual Insurance Companies
Chapter 5. Voting on the Plan by Members
27-15-5-1. Submission of Plan to Vote
27-15-5-3. Notice of Opportunity to Vote; Form and Content
27-15-5-4. Notice of Opportunity to Vote; Flesch Reading Ease Score; Mailing