Sec. 2. (a) A farm mutual insurance company that was authorized to provide insurance in Indiana on June 30, 2003, may elect to obtain a certificate of authority as an extended company. (b) An election under subsection (a) is made by: (1) an affirmative vote by the board of directors of the farm mutual insurance company: (A) on a resolution to convert to an extended company; and (B) on an amendment of the articles of incorporation of the farm mutual insurance company; and (2) filing: (A) the resolution; (B) the amended articles of incorporation; and (C) other information that the commissioner considers necessary for review; with the commissioner. (c) The commissioner shall, upon: (1) receiving a filing specified under subsection (b)(2); and (2) determining that the farm mutual insurance company is in compliance with the requirements of this article and other applicable law; issue an amended certificate of authority to the farm mutual insurance company authorizing the farm mutual insurance company as an extended company. (d) A farm mutual insurance company, after receiving an amended certificate of authority under subsection (c): (1) is subject to the requirements of this chapter; and (2) may commence the business of insurance as an extended company.
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