Ind. Code § 27-8-1-1

Sec. 1. Any number of persons not less than five (5) nor more than thirteen (13), citizens of the United States, one (1) or more of whom shall be bona fide citizens and voters of this state, may associate themselves together as a body corporate for the purpose of organizing a corporation, association, or society to transact the business of life insurance on the assessment plan, subject to the conditions and restrictions provided in this chapter.