IC 27-3-1-2: Authority to adopt plan of exchange

Sec. 2. Any domestic stock insurance company (referred to in this chapter as the "domestic company") may adopt a plan of exchange providing for the exchange by its shareholders of their stock in the domestic company for:

(i) shares of stock issued by any other stock insurance corporation organized or reorganized under the provisions of IC 27-1 or any statute enacted prior to March 8, 1935, or any stock corporation organized under the provisions of IC 23-1 or any foreign stock corporation (such other corporation is referred to in this chapter as the "acquiring corporation");

(ii) other securities issued by the acquiring corporation;

(iii) cash;

(iv) other consideration; or

(v) any combination of such stock, such other securities, cash, or other consideration.