"Material acquisition" defined

Sec. 4. As used in this chapter, "material acquisition" means an asset acquisition or a series of related asset acquisitions during any thirty (30) day period that: (1) is nonrecurring; (2) is not in the normal course of business; and (3) involves more than five percent (5%) of the reporting insurer's total admitted assets as reported in the insurer's most recent statutory statement filed with the department. As added by P.L.251-1995, SEC.17.