760 IAC 1-11-2 - Applicability of rule

Authority: IC 27-1-3-7

Affected: IC 27-1-3-7

Sec. 2.

Application of Regulation. This regulation [ 760 IAC 1-11 ]is applicable to each domestic stock insurer which has any class of equity security held of record by one hundred or more persons entitled to vote; provided, however, that this regulation shall not apply to any insurer if ninety-five per cent or more of its equity securities are owned or controlled by a parent or an affiliated insurer and the remaining securities are held of record by less than five hundred persons. A domestic stock insurer which files with the Securities and Exchange Commission forms of proxies, consents and authorizations complying with the requirements of the Securities Exchange Act of 1934, as amended, and the applicable regulations promulgated thereunder, shall be exempt from the provisions of this regulation with respect to any class of securities subject to SEC jurisdiction.

Notes

760 IAC 1-11-2

Department of Insurance; Reg 11,Sec 2; filed Apr 29, 1966, 11:50 am: Rules and Regs. 1967, p. 87; filed Jan 6, 1970, 8:40 am: Rules and Regs. 1971, p. 186; readopted filed Sep 14, 2001, 12:22 p.m.: 25 IR 531; readopted filed Nov 27, 2007, 4:01 p.m.: 20071226-IR-760070717RFA; readopted filed November 26, 2013, 3:43 p.m.: 20131225-IR-760130479RFA Readopted filed 11/19/2019, 9:18 a.m.: 20191218-IR-760190497RFA