Sec. 2. Any dividend preservation provision may be limited to participating individual life insurance policies and participating individual annuity contracts in force or considered to be in force by the plan of conversion on the effective date of the plan of conversion for which the mutual insurer has an experience based dividend scale due, paid, or accrued by action of the board of directors of the converting mutual in the year in which the plan of reorganization is adopted. However: (1) policies that would be included but for the fact that their recent issuance results in no dividends for an initial period may be included; (2) policies that are in force as extended term insurance may be included; and (3) other categories of policies and benefits not described in this subsection may be included or excluded, subject to the approval of the commissioner. IC 27-15-11 Chapter 11. Use of a Closed Block 27-15-11-1 Applicability of chapter 27-15-11-2 Preparation of written plan of operation 27-15-11-3 Operation of closed block; nonreversion of assets 27-15-11-4 Sufficiency of assets 27-15-11-5 Designation of assets 27-15-11-6 Methods for assignment or designation of assets 27-15-11-7 Conditions for ceasing maintenance of closed block 27-15-11-8 Annual reports and reviews of former mutual
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