There is a newer version of the Indiana Code
2012 Indiana Code
TITLE 27. INSURANCE
ARTICLE 15. DEMUTUALIZATION OF MUTUAL INSURANCE COMPANIES
CHAPTER 9. FORMULA FOR ALLOCATION OF CONSIDERATION AMONG MEMBERS
IC 27-15-9Chapter 9. Formula for Allocation of Consideration Among Members
IC 27-15-9-1
Value, amount, or proportion of consideration received
Sec. 1. The method or formula for allocating consideration among the eligible members shall provide for each eligible member to receive:
(1) a fixed value, amount, or proportion of consideration;
(2) a variable value, amount, or proportion of consideration; or
(3) a combination of fixed and variable values, amounts, or proportions of consideration.
As added by P.L.94-1999, SEC.3.
IC 27-15-9-2
Applicable actuarial principles
Sec. 2. Any method used or formula developed for the fair and equitable allocation of stock among eligible members under this article must utilize generally accepted actuarial principles.
As added by P.L.94-1999, SEC.3.
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