(b) Subject to subsection (c), an intermediate stock holding company may issue any class or type of stock permitted by the law under which the intermediate stock holding company is organized.(c) A reorganized insurer and an intermediate stock holding company may issue shares of stock to a person or entity other than:(1) the mutual insurance holding company of which it is a subsidiary; or(2) an intermediate stock holding company that is a subsidiary of the mutual insurance holding company referred to in subdivision (1);only in compliance with this chapter.As added by P.L.226-2023, SEC.30.
Indiana Legal Code