Indiana § 27-1-8-12 - Restrictions on amendments; decreasing capital stock
Full text of Indiana Indiana Code § 27-1-8-12 — Restrictions on amendments; decreasing capital stock, with citation guidance and answers to common questions.
§ 27-1-8-12. Restrictions on amendments; decreasing capital stock
Sec. 12. A company may amend its articles by providing for a decrease of its capital stock to an amount not less than the minimum capital required for the kind or kinds of insurance transacted by the company before the amendment of the company's articles of incorporation. The department shall not approve or issue its certified copy of such amendment to the company if it shall be of the opinion that the interests of policyholders or creditors may be prejudiced thereby. No distribution of the assets of the company shall be made to shareholders upon any such decrease of capital which shall reduce the surplus of its assets over its liabilities, including capital, to less than the minimum surplus required by this article. Upon any such amendment so decreasing the capital, such company may require each shareholder to return the shareholder's certificate of stock and accept a new certificate for such proportion of the amount of its original stock as the reduced capital shall bear to the original capital.
Formerly: Acts 1935, c.162, s.113. As amended by P.L.252-1985, SEC.38; P.L.136-2018, SEC.154.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 27-1-8-12
What does Indiana Code § 27-1-8-12 cover?
Section 27-1-8-12 ("Restrictions on amendments; decreasing capital stock") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 27-1-8-12?
A common citation format is "Indiana Code § 27-1-8-12" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 27-1-8-12 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.