(b) An election under subsection (a) is made by:(1) an affirmative vote by the board of directors of the farm mutual insurance company:(A) on a resolution to convert to an extended company; and(B) on an amendment of the articles of incorporation of the farm mutual insurance company; and(2) filing:(A) the resolution;(B) the amended articles of incorporation; and(C) other information that the commissioner considers necessary for review;with the commissioner.(c) The commissioner shall, upon:(1) receiving a filing specified under subsection (b)(2); and(2) determining that the farm mutual insurance company is in compliance with the requirements of this article and other applicable law;issue an amended certificate of authority to the farm mutual insurance company authorizing the farm mutual insurance company as an extended company.(d) A farm mutual insurance company, after receiving an amended certificate of authority under subsection (c):(1) is subject to the requirements of this chapter; and(2) may any as an extended company.(d) A farm mutual insurance company, after receiving an amended certificate of authority under subsection (c):(1) is subject to the requirements of this chapter; and(2) may commence the business of insurance as an extended company.As added by P.L.129-2003, SEC.8.
Indiana Legal Code