(1) In addition to any other items required to be filed with the department under this chapter, each mutual insurance holding company shall supply to the Department of Insurance, by March 1 of each year, an annual statement consisting of the following:
(a) An income statement;
(b) A balance sheet;
(c) A cash flow statement;
(d) Complete information on the status of any closed block of business formed as a part of a plan or reorganization;
(e) An investment plan covering all assets; and (f) A statement disclosing any intention to pledge, borrow against, alienate, hypothecate, or in any way encumber the assets of the mutual insurance holding company.
(2) The aggregate pledges and encumbrances of a mutual holding company's assets shall not affect more than forty-nine percent (49%) of the company's stock in any subsidiary insurance holding company or subsidiary insurance company that resulted from a reorganization or merger.
(3) At least fifty percent (50%) of the generally accepted accounting practices net worth of a mutual insurance holding company shall be invested in insurance company subsidiaries.