Insurance Company Mutual-to-Stock Conversion
|Saturday, March 26, 2011 at 12:00 AM
This Act establishes a process to enable a mutual insurer to convert to a stock insurer in a manner consistent with the manner in which a mutual savings institution converts from mutual to a stock form under federal law and regulation. The purpose of the Act is to help facilitate the recapitalization of insurance industry by establishing a method of capital formation for insurers that elect to domicile in the state.
Status: Enacted into law in 2010.
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