Sec. 5. (a) Except as provided in subsection (b), a mutual insurance holding company: (1) has and may exercise all the rights and privileges of insurance companies formed under this title; and (2) is subject to all of the requirements and regulations imposed upon insurance companies formed under this title. (b) The exceptions referred to in subsection (a) are as follows: (1) A mutual insurance holding company has no right or privilege to write insurance (except through a stock insurance company subsidiary) and is not subject to any requirement or rule adopted under IC 4-22-2 relating to the writing of insurance. (2) A mutual insurance holding company is not subject to the surplus requirements in IC 27-1-6-15 . (3) A mutual insurance holding company is not subject to the deposit requirement in IC 27-1-6-15 (d). (4) A mutual insurance holding company is not subject to the investment requirements under IC 27-1-12 , IC 27-1-13 , or IC 27-1-23-2.6 that limit or restrict investments in subsidiaries. (5) A mutual insurance holding company is not subject to risk-based capital requirements under IC 27-1-36 . (6) A mutual insurance holding company is not subject to a requirement under this title if the commissioner determines by order or rule adopted by the commissioner under IC 4-22-2 that the requirement does not apply to the mutual insurance holding company. (7) A mutual insurance holding company is not subject to any requirement or rule adopted under IC 4-22-2 that is imposed upon insurance companies formed under this title to the extent that the requirement or rule is in conflict with this article.
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