Any domestic stock insurance company (referred to in this chapter as the "domestic company") may adopt a plan of exchange providing for the exchange by its shareholders of their stock in the domestic company for:

1. (i) shares of stock issued by any other stock insurance corporation organized or reorganized under the provisions of IC 27-1 or any statute enacted prior to March 8, 1935, or any stock corporation organized under the provisions of IC 23-1 or any foreign stock corporation (such other corporation is referred to in this chapter as the "acquiring corporation");
2. (ii) other securities issued by the acquiring corporation;
3. (iii) cash;
4. (iv) other consideration; or
5. (v) any combination of such stock, such other securities, cash, or other consideration.

As amended by P.L.252-1985, SEC.139.