Sec. 3. (a) This article is intended to enable mutual insurance companies to seek additional capital more effectively to: (1) enhance their financial strength and flexibility; (2) support long term growth internally and through mergers and acquisitions; and (3) expand and enhance the domestic insurance companies of this state. (b) This article provides an alternative organizational structure to help strengthen the Indiana mutual insurance industry by permitting mutual insurance companies to: (1) reorganize into a mutual insurance holding company structure; and (2) raise capital through the sale of capital stock.
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