Indiana Code
Chapter 3. Mutual Life and Accident─formation
27-8-3-2. Corporate Powers

Sec. 2. A corporation, association, or society, organized under the provisions of this chapter, shall, by the name adopted by such corporation, association, or society, in law, be capable of suing and being sued, and may have power to make and enforce contracts in relation to the business of such corporation, association, or society, may have and use a common seal and may change or alter the same at pleasure, and, in the name of the corporation, association, or society, or by a trustee chosen by their board of directors, shall, in law, be capable of taking, purchasing, holding, and disposing of real and personal property for the purposes of their organization, may by their board of directors, trustees or managers, make bylaws not inconsistent with the constitution and laws of this state or of the United States, which bylaws shall define the manner of electing directors, trustees, or managers, or officers of such corporation, association, or society, and the qualifications and duties of the same, with terms of office not exceeding three (3) years, also the qualifications and privileges of the members thereof.
Formerly: Acts 1897, c.195, s.2. As amended by P.L.252-1985, SEC.276.

Structure Indiana Code

Indiana Code

Title 27. Insurance

Article 8. Life, Accident, and Health

Chapter 3. Mutual Life and Accident─formation

27-8-3-1. Authority to Incorporate; Purposes; Articles of Incorporation; Initial Applications; Approval and Filing Documents; License

27-8-3-2. Corporate Powers

27-8-3-3. Directors, Trustees, or Managers

27-8-3-4. Determination of Fee Rates and Amount of Premiums, Assessments, or Periodical Calls; Risks

27-8-3-5. Reincorporation of Domestic Assessment Plan Companies; Exceptions

27-8-3-6. Application of Chapter to Assessment Plan Companies; Exceptions

27-8-3-7. Accumulation of Reserve or Emergency Fund; Investment; Additional Funds; Use of Excess

27-8-3-8. Assignment of Policy to Person Without Insurable Interest Void

27-8-3-9. Annual Report; Failure to File Report and Pay Fees; Suspension From Doing Business

27-8-3-10. Accident Insurance Business on Assessment Plan

27-8-3-11. Reserve Emergency Fund

27-8-3-12. Report of Affairs and Operations; Suspension for Failure to File

27-8-3-13. Authority to Deposit Securities; Investment of Reserve Funds

27-8-3-14. Specification of Amount Payable Upon Particular Contingency; Obligation for Payment; Suspension of Right to Issue New Policies Until Payment Made

27-8-3-15. Transfer or Reinsurance of Risks; Approval; Notice of Preference for Transfer to Different Corporation

27-8-3-16. Examination at Request of Corporation; Certificate of Results; Expense

27-8-3-17. Visitation and Inspection; Insolvency or Improper Business Practices; Report; Order to Show Cause for Termination of Business

27-8-3-18. Attorney General; Exclusive Power to Apply for Accounting, Injunction, or Receivership

27-8-3-19. Foreign Corporations; Requirements for Authority to Do Business; Revocation of Authority; Retaliation Clause

27-8-3-20. Foreign Corporations; Service of Process

27-8-3-21. Fraudulent Representations; Offenses

27-8-3-22. Eligible Beneficiaries; Change of Beneficiary

27-8-3-23. Exemption of Benefits and Premiums From Judicial Process

27-8-3-24. Violations; Revocation of Power to Do Business

27-8-3-25. Fees

27-8-3-26. Exempt Organizations

27-8-3-27. Legal Reserves; Compulsory Deposits; Filing of Forms; Exceptions