Notwithstanding IC 27-1-7-9 , a member may vote by proxy only if:

1. (1) the proxy was solicited and obtained from the member for the express purpose of voting on the plan of conversion and the amendment to the articles of incorporation; and
2. (2) the proxy solicitation materials were provided to and approved by the commissioner before they were mailed or provided to the member.

As added by P.L.94-1999, SEC.3.