Required vote of board of directors in favor of plan of reorganization
Ind. Code § 27-14.5-2-4
in effectSec. 4. A plan of reorganization under this chapter must be adopted by:
(1) a vote of not less than two-thirds (2/3) of the members of the board of directors of the mutual insurance company; or
(2) in the case of the formation of any intermediate stock insurance holding company that is not concurrent with the formation of the mutual insurance holding company, by a vote of not less than two-thirds (2/3) of the members of the board of directors of the mutual insurance holding company.
As added by P.L.226-2023, SEC.30.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/27Fetched: 10/17/2026