(a) A plan of reorganization is effective when:(1) the commissioner has issued the permit for completion of organization of the mutual insurance holding company; and(2) the certificate of authority for the reorganized insurer has been:(A) issued by the commissioner under this chapter; and(B) recorded in the office of the county recorder of the county in which the principal office of the reorganized insurer is located.(b) A plan to issue stock is effective on the date on which the stock is issued in compliance with this article.As added by P.L.226-2023, SEC.30.
Indiana Legal Code