IC 27-14.5-5-5 — Rights and privileges of mutual insurance holding company
Chapter 5. Mutual Insurance Holding Companies
Section text
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.
As added by P.L.226-2023, SEC.30.
Source: official publisher (2026 edition)