Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 02, 2024 | Updated by Findlaw Staff
Sec. 4. (a) With the written approval of the commissioner, and subject to any conditions that the commissioner may impose, a mutual insurance holding company may do any of the following:
(1) Merge or consolidate with, or acquire the assets of:
(A) a mutual insurance holding company licensed under this article; or
(B) any similar entity organized under the laws of any other state.
(2) Either alone or together with one (1) or more of an intermediate stock holding company, a stock insurance company subsidiaries or other subsidiaries, directly or indirectly, acquire the stock or assets of:
(A) a stock insurance company;
(B) a mutual insurance company that is reorganized under this article or the law of its state of organization; or
(C) a mutual insurance company.
(3) Acquire a stock insurance company through the merger of the stock insurance company or its parent company, as applicable, into:
(A) a stock insurance company subsidiary; or
(B) an intermediate stock holding company subsidiary or the mutual insurance holding company.
(b) A mutual insurance holding company and its affiliates may:
(1) establish any other type of entity as otherwise permitted by law; and
(2) acquire the stock or assets of any other entity or person as otherwise permitted by law.
(c) Whenever a mutual insurance holding company:
(1) holds;
(2) acquires; or
(3) plans to acquire;
more than fifty percent (50%) of the voting capital stock of a stock insurance company, the mutual insurance holding company must submit to the commissioner a description of any membership interests of policyholders of the stock insurance company in the mutual insurance holding company.
Cite this article: FindLaw.com - Indiana Code Title 27. Insurance § 27-14.5-5-4 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-27-insurance/in-code-sect-27-14-5-5-4/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)