Indiana Code 27-15-1-2. Conversion generally
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Sec. 2. (a) Any domestic mutual insurance company that:
(2) employs at least five hundred (500) persons or a substantial percentage of its workforce in Indiana;
(1) maintains its executive offices in Indiana; and
Terms Used In Indiana Code 27-15-1-2
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
may, by amendment to its articles of incorporation, convert to a stock insurance company by means of a plan of conversion described in IC 27-15-2-2 or a simple plan of conversion described in IC 27-15-2-3 and IC 27-1-8.
(b) The commissioner shall determine whether a mutual insurance company meets the requirements of subsection (a)(2).
As added by P.L.94-1999, SEC.3. Amended by P.L.14-2000, SEC.61.