IC 27-14.5-2 – Mutual Insurance Company Reorganization | Midpage

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Indiana Code

Chapter 2

IC 27-14.5-2

Mutual Insurance Company Reorganization

1Conditions for reorganization of a mutual insurance company; resulting subsidiaries 2Different means of reorganizing into a mutual insurance holding company 3Mutual insurance holding company must have voting power 4Required vote of board of directors in favor of plan of reorganization 5Filing of application with insurance commissioner 6Contents of plan of reorganization 7Amendment or termination of plan of reorganization 8Submission of plan of reorganization to members 9Member voting on plan of reorganization 10Notice of meeting to all members 11Required contents of proxy solicitation 12Required vote of members in favor of plan of reorganization 13Filing minutes of meeting at which plan of reorganization is approved 14Transfer of rights, liabilities, and authority to reorganized insurer 15Proceeding pending against mutual insurance company 16Reorganized insurer may retain name