Indiana § 27-15-5-7 - Vote required for approval
Full text of Indiana Indiana Code § 27-15-5-7 — Vote required for approval, with citation guidance and answers to common questions.
§ 27-15-5-7. Vote required for approval
Sec. 7. The proposed plan of conversion and amendment to the converting mutual's articles of incorporation shall be approved by the members upon receiving the affirmative votes of:
(1) at least two-thirds (2/3) of the members voting at the meeting; and
(2) if the plan provides for different classes, categories, or groups of eligible members to receive different forms of consideration, other than as permitted by IC 27-15-8-4(b)(2) or IC 27-15-12, at least two-thirds (2/3) of the members voting at the meeting who would receive each different form of consideration, voting as a class.
As added by P.L.94-1999, SEC.3.
IC 27-15-6Chapter 6. Implementation of Approved Plan of Conversion
27-15-6-1Consummation of plan 27-15-6-2Effective date 27-15-6-3Effect of plan and amendment 27-15-6-4Continuation of former mutual 27-15-6-5Compliance with capital and surplus requirements
Frequently Asked Questions About Indiana § 27-15-5-7
What does Indiana Code § 27-15-5-7 cover?
Section 27-15-5-7 ("Vote required for approval") 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 § 27-15-5-7?
A common citation format is "Indiana Code § 27-15-5-7" (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 § 27-15-5-7 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.