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§ 27-14-5-3-3 — Indiana Law | CourtGPT
  1. Home/
  2. Laws/
  3. Indiana/
  4. Title 27 - Insurance/
  5. Article 14.5 - Mutual Insurance Holding Company Law/
  6. Chapter 3 - Issuance of Capital Stock27-14.5-3-1. Issuance of Stock by Reorganized Insurer or Intermediate Stock Holding Company/
  7. § 27-14-5-3-3
Indiana Legal Code

§ 27-14-5-3-3

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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.As added by P.L.226-2023, SEC.30.