Proposed farm mutual insurance companies; application for certificate of authority

Sec. 3. (a) If a proposed farm mutual insurance company does not hold a certificate of authority to do business in Indiana on June 30, 2003, an application may be made to the commissioner on a form prescribed by the commissioner for a certificate of authority for the proposed farm mutual insurance company to do business in Indiana as a standard company. (b) An application described in subsection (a) must include the following concerning the proposed farm mutual insurance company: (1) The name. (2) The location and address of the principal office. (3) The names and addresses of the officers and directors. (4) Three (3) copies of the articles of incorporation. (5) A copy of the bylaws. (c) A standard company described in subsection (a), not earlier than three (3) years after it is granted a certificate of authority to do business as a standard company, may elect to obtain a certificate of authority to do business as an extended company if the standard company: (1) has an annual direct written premium of more than one million dollars ($1,000,000); and (2) complies with IC 27-5.1-4-2.