Section 27-14.5-3-8 - Prohibitions concerning stockA mutual insurance holding company and its subsidiaries and affiliates may not do any of the following:
(1) Lend funds to any person to finance the purchase of stock in a stock offering by a mutual insurance holding company or any of its subsidiaries.(2) Pay commissions, "special fees", or other special or extraordinary compensation to officers, directors, interested persons, or affiliates for arranging, promoting, aiding, assisting, or participating in the structure or placement of a stock offering by the mutual insurance holding company or any of its subsidiaries, except to the extent permitted under section 5(5) of this chapter.Added by P.L. 226-2023,SEC. 30, eff. 5/1/2023.