reglab/housing_qa huggingface dataset:
IN Code § 27-1-7-19 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 7. General Corporate Powers and Responsibilities of Insurance Companies|27-1-7-19. Mutual or Stock Companies; Borrowing for Surplus Funds

Sec. 19. (a) A mutual or stock company organized under this article may borrow or assume a liability for the repayment of a sum of money to provide itself with surplus funds with the prior approval of the department. The rate of interest on any loan or advance may not exceed the following:(1) The corporate base rate in effect on the first business day of the month in which the loan document is executed, as reported by the bank or branch with the greatest amount of assets in Indiana, plus three percent (3%) per annum.(2) A variable rate determined by a formula that:(A) is specified in the loan document;(B) is based on objective data or information that is reasonably related to commercial lending rates;(C) provides an initial rate that is not more than the corporate base rate in effect on the first business day of the month in which the loan document is executed, as reported by the bank or branch with the greatest amount of assets in Indiana, plus two percent (2%) per annum; and(D) is approved by the department as reasonable and appropriate in relation to the company's financial condition.The company shall elect and state in the written agreement whether the interest rate is to be fixed or floating for the term of the agreement. The agreement shall be submitted to and approved by the department before the agreement's execution.(b) The loan or advance, with interest at a rate not exceeding the maximum rate of interest as defined in subsection (a), shall be repaid only out of the surplus of the company. Repayment of principal or payment of interest may be made only when approved by the department whenever in its judgment the financial condition of the company shall warrant. However, the department may not withhold approval if:(1) the company has and submits to the department satisfactory evidence that a surplus that is equal to or greater than the surplus existing immediately after the issuance of the loan or advance will exist after the repayment; and(2) the surplus that will exist immediately after repayment of principal or payment of interest is:(A) reasonable in relation to the company's outstanding liabilities; and(B) adequate to the company's financial needs;in light of the factors set forth in IC 27-1-23-4(f).(c) A loan or advance made under this section, or interest accruing on the loan or advance, may not form a part of the legal liabilities of the company until authorized for payment by the department. However, until a loan or an advance is repaid, all statements published by the company or filed with the department must show the amount of the loan or advance then remaining unpaid, including any accrued and unpaid interest charges.Formerly: Acts 1935, c.162, s.97. As amended by P.L.138-1984, SEC.1; P.L.253-1985, SEC.1; P.L.184-1996, SEC.1; P.L.111-2000, SEC.1.
IN Code § 27-1-7-20 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 7. General Corporate Powers and Responsibilities of Insurance Companies|27-1-7-20. Authority of Corporations, Boards, and Associations to Insure With Mutual Insurance Company

Sec. 20. Any public or private corporation, board or association in this state or elsewhere may make applications, enter into agreements for, and hold policies in, any mutual insurance company. Any officer, stockholder, trustee or legal representative of any such company, board, association, or estate may be recognized as acting for or on its behalf for the purposes of such membership, but shall not be personally liable upon such contract of insurance by reason of acting in such representative capacity.Formerly: Acts 1935, c.162, s.97a.
IN Code § 27-1-7-22 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 7. General Corporate Powers and Responsibilities of Insurance Companies|27-1-7-22. Vouchers for Disbursements

Sec. 22. No domestic insurance corporation shall make any disbursement of one hundred dollars ($100) or more unless the same be evidenced by a voucher signed by or on behalf of the person, firm, limited liability company, or corporation receiving the money and correctly describing the consideration for the payment, and if the same be for services and disbursements, setting forth the services rendered and an itemized statement of the disbursements made, and if it be in connection with any matter pending before any legislative or public body or before any department or officer of any government, correctly describing in addition the nature of the matter and of the interest of such corporation in the matter, or, if such a voucher can not be obtained, by an affidavit stating the reasons the voucher cannot be obtained and setting forth the particulars above mentioned.Formerly: Acts 1935, c.162, s.99. As amended by P.L.8-1993, SEC.411; P.L.136-2018, SEC.151.
IN Code § 27-1-7-23 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 7. General Corporate Powers and Responsibilities of Insurance Companies|27-1-7-23. Annual or Other Required Statements; Material False Statement

Sec. 23. A director, officer, agent, or employee of any company who knowingly subscribes, makes, or concurs in making or publishing any annual or other statement required by law, containing any material statement which is false, commits a Class A misdemeanor.Formerly: Acts 1935, c.162, s.100. As amended by Acts 1978, P.L.2, SEC.2708.
IN Code § 27-1-7.5-1 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 7.5. Indemnification of Directors|27-1-7.5-1. "Corporation" Defined

Sec. 1. As used in this chapter, "corporation" has the meaning set forth in IC 27-1-2-3. The term also includes any domestic or foreign predecessor entity of a corporation in a merger or other transaction in which the predecessor's existence ceased upon consummation of the transaction.As added by P.L.266-1987, SEC.6.
IN Code § 27-1-7.5-2 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 7.5. Indemnification of Directors|27-1-7.5-2. "Director" Defined

Sec. 2. As used in this chapter, "director" means an individual who is or was a director of a corporation or an individual who, while a director of a corporation, is or was serving at the corporation's request as a director, officer, partner, trustee, employee, or agent of another foreign or domestic corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise, whether for profit or not. A director is considered to be serving an employee benefit plan at the corporation's request if the director's duties to the corporation also impose duties on, or otherwise involve services by, the director to the plan or to participants in or beneficiaries of the plan. The term includes, unless the context requires otherwise, the estate or personal representative of a director.As added by P.L.266-1987, SEC.6.
IN Code § 27-1-7.5-3 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 7.5. Indemnification of Directors|27-1-7.5-3. "Expenses" Defined

Sec. 3. As used in this chapter, "expenses" includes counsel fees.As added by P.L.266-1987, SEC.6.
IN Code § 27-1-7.5-4 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 7.5. Indemnification of Directors|27-1-7.5-4. "Liability" Defined

Sec. 4. As used in this chapter, "liability" means the obligation to pay a judgment, settlement, penalty, fine (including an excise tax assessed with respect to an employee benefit plan), or reasonable expenses incurred with respect to a proceeding.As added by P.L.266-1987, SEC.6.
IN Code § 27-1-7.5-5 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 7.5. Indemnification of Directors|27-1-7.5-5. "Official Capacity" Defined

Sec. 5. (a) As used in this chapter, "official capacity" means:(1) when used with respect to a director, the office of director in a corporation; and(2) when used with respect to an individual other than a director, as contemplated in section 13 of this chapter, the office in a corporation held by the officer or the employment or agency relationship undertaken by the employee or agent on behalf of the corporation.(b) The term does not include service for any other foreign or domestic corporation or any partnership, joint venture, trust, employee benefit plan, or other enterprise, whether for profit or not.As added by P.L.266-1987, SEC.6. Amended by P.L.5-1988, SEC.141.
IN Code § 27-1-7.5-6 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 7.5. Indemnification of Directors|27-1-7.5-6. "Party" Defined

Sec. 6. As used in this chapter, "party" includes an individual who was, is, or is threatened to be made a named defendant or respondent in a proceeding.As added by P.L.266-1987, SEC.6.
IN Code § 27-1-7.5-7 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 7.5. Indemnification of Directors|27-1-7.5-7. "Proceeding" Defined

Sec. 7. As used in this chapter, "proceeding" means any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative and whether formal or informal.As added by P.L.266-1987, SEC.6.
IN Code § 27-1-7.5-8 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 7.5. Indemnification of Directors|27-1-7.5-8. Conditional Indemnification of Director Against Liability

Sec. 8. (a) A corporation may indemnify an individual made a party to a proceeding because the individual is or was a director against liability incurred in the proceeding if:(1) the individual's conduct was in good faith;(2) the individual reasonably believed:(A) in the case of conduct in the individual's official capacity with the corporation, that the individual's conduct was in its best interests; and(B) in all other cases, that the individual's conduct was at least not opposed to its best interests; and(3) in the case of any criminal proceeding, the individual either:(A) had reasonable cause to believe the individual's conduct was lawful; or(B) had no reasonable cause to believe the individual's conduct was unlawful.(b) A director's conduct with respect to an employee benefit plan for a purpose the director reasonably believed to be in the interests of the participants in and beneficiaries of the plan is conduct that satisfies the requirement of subsection (a)(2).(c) The termination of a proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent is not, of itself, determinative that the director did not meet the standard of conduct described in this section.As added by P.L.266-1987, SEC.6.
IN Code § 27-1-7.5-9 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 7.5. Indemnification of Directors|27-1-7.5-9. Mandatory Indemnification of Director for Expenses Incurred in Successful Defense

Sec. 9. Unless limited by its articles of incorporation, a corporation shall indemnify a director who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which the director was a party because the director is or was a director of the corporation against reasonable expenses incurred by the director in connection with the proceeding.As added by P.L.266-1987, SEC.6.
IN Code § 27-1-7.5-10 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 7.5. Indemnification of Directors|27-1-7.5-10. Advancement of Expenses Before Final Disposition; Conditions

Sec. 10. (a) A corporation may pay for or reimburse the reasonable expenses incurred by a director who is a party to a proceeding in advance of final disposition of the proceeding if:(1) the director furnishes the corporation a written affirmation of the director's good faith belief that the director has met the standard of conduct described in section 8 of this chapter;(2) the director furnishes the corporation a written undertaking, executed personally or on the director's behalf, to repay the advance if it is ultimately determined that the director did not meet the standard of conduct; and(3) a determination is made that the facts then known to those making the determination would not preclude indemnification under this chapter.(b) The undertaking required by subsection (a)(2) must be an unlimited general obligation of the director but need not be secured and may be accepted without reference to financial ability to make repayment.(c) Determinations and authorizations of payments under this section shall be made in the manner specified in section 12 of this chapter.As added by P.L.266-1987, SEC.6.
IN Code § 27-1-7.5-11 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 7.5. Indemnification of Directors|27-1-7.5-11. Court Ordered Indemnification; Determination

Sec. 11. Unless a corporation's articles of incorporation provide otherwise, a director of the corporation who is a party to a proceeding may apply for indemnification to the court conducting the proceeding or to another court of competent jurisdiction. On receipt of an application, the court, after giving any notice the court considers necessary, may order indemnification if it determines that:(1) the director is entitled to mandatory indemnification under section 9 of this chapter, in which case the court shall also order the corporation to pay the director's reasonable expenses incurred to obtain court ordered indemnification; or(2) the director is fairly and reasonably entitled to indemnification in view of all the relevant circumstances, whether or not the director met the standard of conduct set forth in section 8 of this chapter.As added by P.L.266-1987, SEC.6.
IN Code § 27-1-7.5-12 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 7.5. Indemnification of Directors|27-1-7.5-12. Determination of Permissible Indemnification; Authorization of Indemnification and Evaluation as to Reasonableness of Expenses

Sec. 12. (a) A corporation may not indemnify a director under section 8 of this chapter unless authorized in the specific case after a determination has been made that indemnification of the director is permissible in the circumstances because the director has met the standard of conduct set forth in section 8 of this chapter.(b) The determination shall be made by any one (1) of the following procedures:(1) By the board of directors by majority vote of a quorum consisting of directors not at the time parties to the proceeding.(2) If a quorum cannot be obtained under subdivision (1), by majority vote of a committee duly designated by the board of directors (in which designation directors who are parties may participate), consisting solely of two (2) or more directors not at the time parties to the proceeding.(3) By special legal counsel:(A) selected by the board of directors or its committee in the manner prescribed in subdivision (1) or (2); or(B) if a quorum of the board of directors cannot be obtained under subdivision (1) and a committee cannot be designated under subdivision (2), selected by majority vote of the full board of directors (in which selection directors who are parties may participate).(c) Authorization of indemnification and evaluation as to reasonableness of expenses shall be made in the same manner as the determination that indemnification is permissible, except that if the determination is made by special legal counsel, authorization of indemnification and evaluation as to reasonableness of expenses shall be made by those entitled under subsection (b)(3) to select counsel.As added by P.L.266-1987, SEC.6.
IN Code § 27-1-7.5-13 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 7.5. Indemnification of Directors|27-1-7.5-13. Indemnification of Corporate Employees Other Than Directors

Sec. 13. The following apply unless a corporation's articles of incorporation provide otherwise:(1) An officer of the corporation, whether or not a director, is entitled to mandatory indemnification under section 9 of this chapter and is entitled to apply for court ordered indemnification under section 11 of this chapter, in each case to the same extent as a director.(2) The corporation may indemnify and advance expenses under this chapter to an officer, employee, or agent of the corporation, whether or not a director, to the same extent as to a director.(3) A corporation may also indemnify and advance expenses to an officer, employee, or agent, whether or not a director, to the extent, consistent with public policy, that may be provided by its articles of incorporation, bylaws, general or specific action of its board of directors, or contract.As added by P.L.266-1987, SEC.6.
IN Code § 27-1-7.5-14 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 7.5. Indemnification of Directors|27-1-7.5-14. Liability Insurance Purchased and Maintained by Corporation

Sec. 14. A corporation may purchase and maintain insurance on behalf of an individual who is or was a director, officer, employee, or agent of the corporation, or who, while a director, officer, employee, or agent of the corporation, is or was serving at the request of the corporation as a director, officer, partner, trustee, employee, or agent of another foreign or domestic corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise, against liability asserted against or incurred by the individual in that capacity or arising from the individual's status as a director, officer, employee, or agent, whether or not the corporation would have power to indemnify the individual against the same liability under section 8 or 9 of this chapter.As added by P.L.266-1987, SEC.6.
IN Code § 27-1-7.5-15 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 7.5. Indemnification of Directors|27-1-7.5-15. Limitation of Remedies; Effect of Chapter

Sec. 15. (a) The indemnification and advance for expenses provided for or authorized by this chapter does not exclude any other rights to indemnification and advance for expenses that a person may have under:(1) a corporation's articles of incorporation or bylaws;(2) a resolution of the board of directors or of the shareholders of a stock company, or members or shareholders of a mutual company qualified to elect directors; or(3) any other authorization, whenever adopted, after notice, by a majority vote of all the voting shares then issued and outstanding of a stock company or of all the members or policyholders of a mutual company authorized to elect directors.(b) If the articles of incorporation, bylaws, resolutions of the board of directors or of the shareholders, or other duly adopted authorization of indemnification or advance for expenses limit indemnification or advance for expenses, indemnification and advance for expenses are valid only to the extent consistent with the articles, bylaws, resolution of the board of directors or of the shareholders, members, or directors or other duly adopted authorization of indemnification or advance for expenses.(c) This chapter does not limit a corporation's power to pay or reimburse expenses incurred by a director, officer, employee, or agent in connection with the person's appearance as a witness in a proceeding at a time when the person has not been made a named defendant or respondent to the proceeding.As added by P.L.266-1987, SEC.6.
IN Code § 27-1-8-1 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 8. Procedures for Amending Articles of Incorporation|27-1-8-1. Authority to Amend

Sec. 1. Any corporation may, at any time, amend its articles of incorporation without limitation so long as the articles as amended would have been authorized by this article as original articles, by complying with the provisions of this chapter.Formerly: Acts 1935, c.162, s.101. As amended by P.L.252-1985, SEC.32.
IN Code § 27-1-8-2 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 8. Procedures for Amending Articles of Incorporation|27-1-8-2. Proposal of Amendment

Sec. 2. Every amendment to the articles of incorporation shall first be proposed by the board of directors, by the adoption of a resolution setting forth the proposed amendment and directing that it be submitted to a vote of the shareholders, members, or policyholders entitled to vote in respect thereof at a designated meeting of such shareholders, members, or policyholders which may be an annual meeting of the shareholders, members, or policyholders or a special meeting of the shareholders, members, or policyholders entitled to vote in respect thereof. If the resolution shall direct that the proposed amendment is to be submitted at an annual meeting, notice of the submission of the proposed amendment shall be included in the notice of such annual meeting. If the said resolution shall direct that the proposed amendment is to be submitted to a special meeting of the shareholders, members, or policyholders entitled to vote thereon, such special meeting shall be called by the resolution proposing the amendment, and notice of such meeting shall be given at the time in the manner provided in IC 27-1-7-7.Formerly: Acts 1935, c.162, s.102. As amended by P.L.252-1985, SEC.33.
IN Code § 27-1-8-3 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 8. Procedures for Amending Articles of Incorporation|27-1-8-3. Vote of Shareholders, Policyholders, or Members; Exceptions; Notice of Corporation Name Change

Sec. 3. (a) Except as provided in subsection (b), an amendment to the articles of incorporation so proposed shall be submitted to a vote of the shareholders, members, or policyholders at the annual or at the special meeting directed by the resolution of the board of directors proposing the amendment, and the proposed amendment shall be adopted upon receiving the affirmative votes of at least a majority of the stock, or such greater portion as the articles of incorporation may require, of the outstanding shares of stock entitled to vote, if a stock company; and upon receiving the affirmative votes of at least two-thirds (2/3) of the members or policyholders voting at such annual or special meeting, if other than a stock company.(b) Unless the articles of incorporation provide otherwise, a corporation's board of directors may adopt one (1) or more amendments to the corporation's articles of incorporation without shareholder, member, or policyholder action to:(1) extend the duration of the corporation, if the corporation was incorporated at a time when limited duration was required by law;(2) delete the names and addresses of the initial directors, officers, or incorporators;(3) delete the name and address of the initial registered agent or registered or principal office, if a statement of change is on file with the secretary of state;(4) change each issued and unissued authorized share of an outstanding class into a greater number of whole shares or a lesser number of whole shares and fractional shares if the corporation has only shares of that class outstanding;(5) reduce the number of authorized shares solely as the result of a cancellation of treasury shares; or(6) change the corporate name, if the new name complies with IC 27-1-6-3.(c) If a corporation changes its name under subsection (b)(6), the corporation shall, not more than thirty (30) days after the effective date of the amendment changing the corporate name, mail or deliver a written or printed notice of the new corporate name to each shareholder, member, or policyholder of record of the corporation.Formerly: Acts 1935, c.162, s.103. As amended by P.L.185-1997, SEC.2.