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27-14-5-7. Stock option or sale of stock below fair market value as compensation of officer or director prohibited

IN Code § 27-14-5-7 (2019) (N/A)
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Sec. 7. A reorganized insurer or stock holding company may not:

(1) grant stock purchase options or warrants, or otherwise use securities to provide compensation to directors or officers, or both, at a price less than the fair market value of the security on the date of the grant; or

(2) sell securities to directors or officers, or both, at a price less than the fair market value of the security (except under the exercise of authorized stock options consistent with subdivision (1) and section 8 of this chapter).

As added by P.L.5-2000, SEC.4.

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27-14-5-6. Only publicly traded stock to be issued to directors or officers
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27-14-5-8. Stock purchase options for directors or officers prohibited until six months after public trading begins