{"data":{"id":"us-in/ic-27-15-13-3","jurisdiction":"us-in","citation":"IC 27-15-13-3","heading":"Voting of securities subject to acquisition","body":"Sec. 3. A security that is:\n(1) the subject of any agreement or arrangement regarding acquisition; or\n(2) held, acquired, or is to be acquired;\nin contravention of this chapter or of an order of the commissioner, may not be voted at any shareholders' meeting. Any action of shareholders requiring the affirmative vote of a percentage of shares may be taken as though the securities were not issued and outstanding. However, no action taken at a meeting shall be invalidated by the voting of those securities unless the action would materially affect control of the former mutual or a person that owns or controls a majority or all of the voting securities of the former mutual or unless the courts of this state have so ordered.","path":["TITLE 27. INSURANCE","ARTICLE 15. DEMUTUALIZATION OF MUTUAL INSURANCE COMPANIES","Chapter 13. Initial Limits on Ownership of Shares"],"source_url":"https://iga.in.gov/ic/2026/Title_27.html#27-15-13-3","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-25T05:39:04Z","sha256":"f8ae6dfbc20c55646290ab18953d71c1ff5838c8d01871e7ab252793c7047045","source_id":"us-in","stale":false,"prev":"us-in/ic-27-15-13-2","next":"us-in/ic-27-15-13-4"},"notice":"GroundRules: Original legal text. Not legal advice."}