Sec. 1. A parent company under this article:
(1) shall locate its executive offices in Indiana;
(2) shall employ at least five hundred (500) persons or a substantial percentage of its workforce in Indiana;
(3) shall be organized under the laws of Indiana; and
(4) may be:
(A) a corporation organized for the purpose of serving as a holding company for the former mutual or a corporation that, before the conversion, was a subsidiary of the converting mutual; or
(B) any other existing or newly created corporation.