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Indiana Code Title 27. Insurance § 27-15-4-4

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 4. (a) The converting mutual shall provide at least thirty (30) days prior written notice of the hearing to its members and other policyholders as of the date its board of directors adopted the resolution proposing the plan of conversion.

(b) The notice must include the following:

(1) A brief statement of the subject of the hearing, the date, time, and location of the hearing.

(2) A description of members eligible to vote on the plan of conversion and the amendment to the articles of incorporation.

(3) A statement that the members and policyholders may examine, at the department, the public record portion of the application submitted to the commissioner.

(4) The address and telephone number of the converting mutual and, if different, the former mutual.

(c) The converting mutual shall provide the commissioner with the proposed form and content of the notice not less than fifteen (15) days before notice is to be provided to the members and policyholders, and the commissioner shall approve or disapprove the form and content of the notice within ten (10) days after its submission to the commissioner.  The notice to members and other policyholders shall, after approval by the commissioner, be provided by mail or other means approved by the commissioner.

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Cite this article: FindLaw.com - Indiana Code Title 27. Insurance § 27-15-4-4 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-27-insurance/in-code-sect-27-15-4-4/

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