Indiana Code Title 27. Insurance § 27-14.5-3-3

Sec. 3. A board of directors that adopts a plan to issue stock under this chapter may amend or withdraw the plan at any time before the effective date by a vote of not less than two-thirds ( 2/3 ) of the members of the board of directors.  However, after the commissioner has approved a plan to issue stock, the plan may not be amended unless the commissioner approves the amendment.