Indiana Code 27-14.5-4-12. When plan of reorganization or plan to issue stock is effective

Sec. 12. (a) A plan of reorganization is effective when:

(1) the commissioner has issued the permit for completion of organization of the mutual insurance holding company; and

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(2) the certificate of authority for the reorganized insurer has been:

(A) issued by the commissioner under this chapter; and

(B) recorded in the office of the county recorder of the county in which the principal office of the reorganized insurer is located.

(b) A plan to issue stock is effective on the date on which the stock is issued in compliance with this article.

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