Sec. 1. As used in this chapter:
(a) "Commissioner" means the insurance commissioner of this state.
(b) "Domestic insurer" means a stock insurance company organized under the laws of this state.
(c) "Parent corporation" means a corporation organized for any purpose under the laws of this state or any other jurisdiction that owns, directly or indirectly, at least ninety percent (90%) of the issued and outstanding voting stock of a domestic insurer.
(d) "Subsidiary insurer" means a domestic insurer, at least ninety percent (90%) of the issued and outstanding voting stock of which is owned by a parent corporation.
(e) "Voting stock" means shares issued by a domestic insurer, the record holders of which are entitled to vote at each election of directors of the domestic insurer, and securities convertible into or evidencing a right to acquire the shares.
Formerly: Acts 1973, P.L.278, SEC.1. As amended by P.L.245-1989, SEC.2.
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