Sec. 1. Any number of natural persons, not less than seven (7), all of whom are eighteen (18) years of age or older, at least a majority of whom are residents of the state of Indiana and citizens of the United States, may form a corporation under the provisions of this chapter for the purpose of making any kind or kinds of insurance described in any one class set out in IC 27-1-5-1 , other than reciprocal, farm mutual, fraternal, and assessment insurance, by complying with the provisions of this chapter. Formerly: Acts 1935, c.162, s.61; Acts 1973, P.L.270, SEC.1. As amended by P.L.252-1985, SEC.15.
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