Insurance commissioner approval of plan of reorganization

Sec. 1. Not more than sixty (60) days after the filing of a plan of reorganization that: (1) is complete; and (2) does not include a plan to issue stock; the commissioner shall approve the plan without holding a hearing unless the commissioner concludes that one (1) or more of the findings listed in section 6 of this chapter is likely to be made. As added by P.L.226-2023, SEC.30.