§ 27-3-1-2

Any domestic stock insurance company (referred to in this chapter as the 'domestic company') may adopt a plan of exchange providing for the exchange by its shareholders of their stock in the domestic company for:(i) shares of stock issued by any other stock insurance corporation organized or reorganized under the provisions of IC 27-1 or any statute enacted prior to March 8, 1935, or any stock corporation organized under the provisions of IC 23-1 or any foreign stock corporation (such other corporation is referred to in this chapter as the 'acquiring corporation');(ii) other securities issued by the acquiring corporation;(iii) cash;(iv) other consideration; or(v) any combination of such stock, such other securities, cash, or other consideration.Formerly: Acts 1967, c.61, s.2. As amended by P.L.252-1985, SEC.139.