{"data":{"id":"us-in/ic-27-14.5-3-2","jurisdiction":"us-in","citation":"IC 27-14.5-3-2","heading":"Required vote of board of directors in favor of issuing stock","body":"Sec. 2. A plan to issue stock under this chapter must be adopted:\n(1) by a vote of not less than two-thirds (2/3) of the members of the board of directors of the mutual insurance company; or\n(2) in the case of a plan to issue shares of stock that is not concurrent with the formation of the mutual insurance holding company, by a vote of not less than two-thirds (2/3) of the members of the board of directors of the mutual insurance holding company and the reorganized insurer or intermediate stock holding company proposing to issue the stock.","path":["TITLE 27. INSURANCE","ARTICLE 14.5. MUTUAL INSURANCE HOLDING COMPANY LAW","Chapter 3. Issuance of Capital Stock"],"source_url":"https://iga.in.gov/ic/2026/Title_27.html#27-14.5-3-2","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-25T05:39:04Z","sha256":"26f8dcc2ebe56e9f4f76cbcffcc580014c162624359ad68de6560a6b70a5d21c","source_id":"us-in","stale":false,"prev":"us-in/ic-27-14.5-3-1","next":"us-in/ic-27-14.5-3-3"},"notice":"GroundRules: Original legal text. Not legal advice."}