A mutual insurance holding company and its subsidiaries and affiliates may not do any of the following:
- (1) Lend funds to any person to finance the purchase of stock in a stock offering by a mutual insurance holding company or any of its subsidiaries.
- (2) Pay commissions, "special fees", or other special or extraordinary compensation to officers, directors, interested persons, or affiliates for arranging, promoting, aiding, assisting, or participating in the structure or placement of a stock offering by the mutual insurance holding company or any of its subsidiaries, except to the extent permitted under section 5(5) of this chapter.
As added by P.L.226-2023, SEC.30.