{"data":{"id":"us-in/ic-27-3-2-1","jurisdiction":"us-in","citation":"IC 27-3-2-1","heading":"Authority to issue stock","body":"Sec. 1. Any insurance company organized and doing business under the laws of this state on what is known as the assessment plan, and having more than one thousand (1,000) members, and a reserve fund of not less than one hundred thousand dollars ($100,000), is authorized, subject to the limitations set forth in this chapter, to issue stock in shares of fifty dollars ($50) each, to an amount of not less than one hundred thousand (100,000) nor more than five hundred thousand dollars ($500,000), and to receive subscriptions for the stock.","path":["TITLE 27. INSURANCE","ARTICLE 3. CONSOLIDATIONS AND REORGANIZATION","Chapter 2. Assessment Plans─Reorganization Into Stock Companies"],"source_url":"https://iga.in.gov/ic/2026/Title_27.html#27-3-2-1","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-25T05:39:04Z","sha256":"41c2e83ae22d5020c1de85bc5d1d02b8c83e6c59aa2dde30fb9375f456f8ec20","source_id":"us-in","stale":false,"prev":"us-in/ic-27-3-1-7","next":"us-in/ic-27-3-2-2"},"notice":"GroundRules: Original legal text. Not legal advice."}