IC 27-14.5-4-12: When plan of reorganization or plan to issue stock is effective

Sec. 12. (a) A plan of reorganization is effective when:

(1) the commissioner has issued the permit for completion of organization of the mutual insurance holding company; and

(2) the certificate of authority for the reorganized insurer has been:

(A) issued by the commissioner under this chapter; and

(B) recorded in the office of the county recorder of the county in which the principal office of the reorganized insurer is located.

(b) A plan to issue stock is effective on the date on which the stock is issued in compliance with this article.