Skip to main content
CourtGPT logoCourtGPT
Directory
Law
For Attorneys
Blog
AppointmentsSign InSign Up
§ 27-15-11-3 — Indiana Law | CourtGPT
  1. Home/
  2. Laws/
  3. Indiana/
  4. Title 27 - Insurance/
  5. Article 15 - Demutualization of Mutual Insurance Companies/
  6. Chapter 11 - Use of A Closed Block27-15-11-1. Applicability of Chapter/
  7. § 27-15-11-3
Indiana Legal Code

§ 27-15-11-3

Ask AI about this
No costs or expenses incurred in connection with the conversion shall be charged to the closed block. Subject to termination of the closed block under section 7 of this chapter, none of the assets allocated to the closed block or the revenue derived from those assets may revert to the benefit of the stockholders of the former mutual or any parent company.As added by P.L.94-1999, SEC.3.