Section 760 IAC 1-66-5 - Additional powers of commissioner; prohibition from use of rule based on change in investor's certificateAuthority: IC 27-15-13-2
Affected: IC 27-1-23
Sec. 5.
(a) Nothing in this rule shall prevent the commissioner from taking any action necessary for the protection of the policyholders of the former mutual company upon the commissioner's receipt of a notice of any change in the matters certified as required by IC 27-15-13-2(b)(2)(C).(b) An institutional investor that files a notice described in subsection (a) may make no further acquisitions of shares under this rule if any change reported in such notice would: (1) make the institutional investor ineligible to use this rule to acquire shares;(2) require approval under IC 27-1-23; or(3) otherwise cause the commissioner to disapprove an acquisition of shares. Department of Insurance; 760 IAC 1-66-5; filed Aug 3, 2001, 4:38 p.m.: 24 IR 3987; readopted filed Nov 27, 2007, 4:01 p.m.: 20071226-IR-760070717RFA; readopted filed November 26, 2013, 3:43 p.m.: 20131225-IR-760130479RFAReadopted filed 11/19/2019, 9:18 a.m.: 20191218-IR-760190497RFA