Title 27 Insurance 27-1-23-2.5. Definitions — Applicability of section — Pre-acquisition notification — Waiting period — Order., Burns Ind. Code Ann. § 27-1-23-2.5
Summary
(a)The following definitions apply throughout this section:
(1)“Acquisition” means any agreement, arrangement, or activity the consummation of which results in a person acquiring directly or indirectly the control of another person. The term includes the acquisition of voting securities, and the acquisition of assets, assumption reinsurance, and mergers.
(2)“Involved insurer” includes an insurer that:
(A)acquires;
(B)is acquired;
(C)is affiliated with an acquirer;
(D)is affiliated with an acquired; or
(E)is the result of a merger.
(b)Except as provided in subsection (c), this section applies to any acquisition in which there is a change in control of an insurer authorized to do business in Indiana.
(c)This section does not apply to the following:
(1)An acquisition subject to approval or disapproval by the commissioner under section 2 [IC 27-1-23-2] of this chapter.
(2)A purchase of securities solely for investment purposes, so long as those securities are not used by voting or otherwise to cause ...