Indiana Code
Title 27. Insurance
Article 15. Demutualization of Mutual Insurance Companies

27-15-4-1. Commissioner's Determination of Application Completeness; Designation of Date for Public Hearing - Sec. 1. (a) The commissioner shall determine, within forty-five (45)...

27-15-4-2. Purpose of Public Hearing - Sec. 2. The commissioner shall hold a public hearing upon...

27-15-4-3. Commencement of Hearing; Postponement - Sec. 3. The public hearing shall commence within sixty (60)...

27-15-4-4. Notice of Hearing - Sec. 4. (a) The converting mutual shall provide at least...

27-15-4-5. Publication of Notice - Sec. 5. (a) The converting mutual shall cause notice of...

27-15-4-6. Hearing Procedures - Sec. 6. The hearing shall be conducted by the commissioner...

27-15-4-7. Issuance of Commissioner's Determination - Sec. 7. (a) The commissioner shall fully consider any comments...

27-15-4-8. Findings Required for Application Approval - Sec. 8. The commissioner shall approve the application and permit...

27-15-4-9. Waiver of Findings for Application Approval - Sec. 9. The commissioner may waive the requirement of section...

Chapter 5. Voting on the Plan by Members

27-15-5-1. Submission of Plan to Vote - Sec. 1. The proposed plan of conversion and amendment to...

27-15-5-2. Time of Meeting - Sec. 2. The meeting of members shall be held not...

27-15-5-3. Notice of Opportunity to Vote; Form and Content - Sec. 3. (a) The members of the converting mutual entitled...

27-15-5-4. Notice of Opportunity to Vote; Flesch Reading Ease Score; Mailing - Sec. 4. The notice described in section 3 of this...

27-15-5-5. Members Entitled to Vote - Sec. 5. (a) Only members of the converting mutual as...

27-15-5-6. Proxy Voting - Sec. 6. Notwithstanding IC 27-1-7-9, a member may vote by...

27-15-5-7. Vote Required for Approval - Sec. 7. The proposed plan of conversion and amendment to...

Chapter 6. Implementation of Approved Plan of Conversion

27-15-6-1. Consummation of Plan - Sec. 1. After the proposed plan of conversion and amendment...

27-15-6-2. Effective Date - Sec. 2. The plan of conversion and the amendment to...

27-15-6-3. Effect of Plan and Amendment - Sec. 3. When the plan of conversion and the amendment...

27-15-6-4. Continuation of Former Mutual - Sec. 4. The former mutual shall be a continuation of...

27-15-6-5. Compliance With Capital and Surplus Requirements - Sec. 5. The former mutual shall comply with the minimum...

Chapter 7. Confidential Records

27-15-7-1. Applicability of Chapter - Sec. 1. Except as otherwise specifically provided in this chapter,...

27-15-7-2. Purpose; Effect of Confidentiality - Sec. 2. Filings, information, and documents made with or provided...

27-15-7-3. Disclosure of Confidential Information - Sec. 3. (a) Subject to subsection (c), the commissioner may...

Chapter 8. Distribution of Consideration to Members

27-15-8-1. Forms of Consideration - Sec. 1. The consideration to be distributed to the eligible...

27-15-8-2. Factors in Determination of Forms and Amount - Sec. 2. The amount and the form or forms of...

27-15-8-3. Delay in Distribution; Time Limitation - Sec. 3. Distribution of all or part of the consideration...

27-15-8-4. Distribution of Initial Stock - Sec. 4. (a) A converting mutual using IC 27-15-2-2 or...

Chapter 9. Formula for Allocation of Consideration Among Members

27-15-9-1. Value, Amount, or Proportion of Consideration Received - Sec. 1. The method or formula for allocating consideration among...

27-15-9-2. Applicable Actuarial Principles - Sec. 2. Any method used or formula developed for the...

Chapter 10. Dividend Preservation

27-15-10-1. Purpose of Provisions; Prohibitions - Sec. 1. (a) The sole purpose of any dividend preservation...

27-15-10-2. Limitations on Provisions - Sec. 2. Any dividend preservation provision may be limited to...

Chapter 11. Use of a Closed Block

27-15-11-1. Applicability of Chapter - Sec. 1. This chapter applies if a closed block is...

27-15-11-2. Preparation of Written Plan of Operation - Sec. 2. The converting mutual shall prepare a written plan...

27-15-11-3. Operation of Closed Block; Nonreversion of Assets - Sec. 3. The closed block shall be operated for the...

27-15-11-4. Sufficiency of Assets - Sec. 4. The assets allocated to the closed block, together...

27-15-11-5. Designation of Assets - Sec. 5. The assets assigned to a closed block shall...

27-15-11-6. Methods for Assignment or Designation of Assets - Sec. 6. The plan of operation must specify the following:...

27-15-11-7. Conditions for Ceasing Maintenance of Closed Block - Sec. 7. The plan of operation must provide for the...

27-15-11-8. Annual Reports and Reviews of Former Mutual - Sec. 8. The former mutual shall: (1) submit to the...

Chapter 12. Effect of Pending Claims on the Distribution of Consideration to Members

27-15-12-1. Delay of Distribution - Sec. 1. All or part of the consideration to be...

27-15-12-2. Formation of Trust Under Trust Agreement; Beneficiaries; Satisfaction of Claims; Reports - Sec. 2. (a) At the effective date of the plan...

Chapter 13. Initial Limits on Ownership of Shares

27-15-13-1. Acquisition of Beneficial Ownership; Limitations - Sec. 1. (a) Except as specifically provided in a plan...

27-15-13-2. Acquisition of Beneficial Ownership; Factors for Approval Procedure - Sec. 2. (a) The commissioner may not approve an acquisition...

27-15-13-3. Voting of Securities Subject to Acquisition - Sec. 3. A security that is: (1) the subject of...

27-15-13-4. Supplemental Nature of Provisions - Sec. 4. The requirements of this chapter are in addition...

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 - Sec. 1. (a) If a domestic mutual insurance company: (1)...

27-15-14-2. Application for Approval; Required Descriptions - Sec. 2. The application for approval of a plan of...

27-15-14-3. Approval of Application; Public Hearing - Sec. 3. The commissioner shall approve the application and permit...

27-15-14-4. Supplemental Requirements for Modified Conversion - Sec. 4. The requirements of this chapter are in addition...

Chapter 15. Judicial Review

27-15-15-1. Petition for Review - Sec. 1. A person who is aggrieved by an agency...

27-15-15-2. Time for Filing Petitions - Sec. 2. All petitions for judicial review of, and any...

27-15-15-3. Action to Compel Determination - Sec. 3. A person who is aggrieved by a failure...

Chapter 16. Miscellaneous Provisions

27-15-16-1. Parent Company - Sec. 1. A parent company under this article: (1) shall...

27-15-16-2. Rules - Sec. 2. The commissioner may adopt rules under IC 4-22-2...

27-15-16-3. Hiring Professionals Necessary to Assist Commissioner's Review - Sec. 3. (a) The commissioner may, at the expense of...

27-15-16-4. Failure to Give Notice; Good Faith Exception - Sec. 4. If a converting mutual complies substantially and in...

27-15-16-5. Abandonment of Plan of Conversion - Sec. 5. At any time before the effective date of...

27-15-16-6. Use of "Mutual" Prohibited After Conversion - Sec. 6. After conversion, the name of the former mutual...

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Indiana Code Title 27. Insurance Article 15. Demutualization of Mutual Insurance Companies

Indiana Code
Title 27. Insurance
Article 15. Demutualization of Mutual Insurance Companies