1. (a) Except as provided in subsection (b), a mutual insurance holding company:

   1. (1) has and may exercise all the rights and privileges of insurance companies formed under this title; and
   2. (2) is subject to all of the requirements and regulations imposed upon insurance companies formed under this title.

2. (b) The exceptions referred to in subsection (a) are as follows:

   1. (1) A mutual insurance holding company has no right or privilege to write insurance (except through a stock insurance company subsidiary) and is not subject to any requirement or rule adopted under IC 4-22-2 relating to the writing of insurance.
   2. (2) A mutual insurance holding company is not subject to the surplus requirements in IC 27-1-6-15 .
   3. (3) A mutual insurance holding company is not subject to the deposit requirement in IC 27-1-6-15 (d).
   4. (4) A mutual insurance holding company is not subject to the investment requirements under IC 27-1-12 , IC 27-1-13 , or IC 27-1-23-2.6 that limit or restrict investments in subsidiaries.
   5. (5) A mutual insurance holding company is not subject to risk-based capital requirements under IC 27-1-36 .
   6. (6) A mutual insurance holding company is not subject to a requirement under this title if the commissioner determines by order or rule adopted by the commissioner under IC 4-22-2 that the requirement does not apply to the mutual insurance holding company.
   7. (7) A mutual insurance holding company is not subject to any requirement or rule adopted under IC 4-22-2 that is imposed upon insurance companies formed under this title to the extent that the requirement or rule is in conflict with this article.

As added by P.L.226-2023, SEC.30.