Sec. 1. The board of directors of the converting mutual shall commence the demutualization process by adopting a resolution that proposes:
(1) the amendment of its articles of incorporation under IC 27-1-8-2; and
(2) a plan of conversion.
Ind. Code § 27-15-2-1
Commencement of demutualization
Applied in 1 court decision — leading case 799 F. Supp. 2d 910 - Ormond v. ANTHEM, INC. (2011)
Most recently applied in 799 F. Supp. 2d 910 - Ormond v. ANTHEM, INC. (July 2011)
As added by P.L.94-1999, SEC.3.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.