Indiana Code 27-6-6-8. Right of domestic corporation to exchange contracts
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Terms Used In Indiana Code 27-6-6-8
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Sec. 8. Any corporation organized under the laws of this state, shall, in addition to the rights, powers and franchises specified in its articles of incorporation, have full power and authority, as a subscriber, to exchange insurance contracts of the kind and character mentioned in this chapter. The right to exchange such contracts is declared to be incidental to the purposes for which such corporations are organized and as much granted as the rights and powers expressly conferred.
Formerly: Acts 1919, c.102, s.8. As amended by P.L.136-2018, SEC.181.