California § 4097.05. 4097.05. (Added by Stats. 1998, Ch. 421, Sec. 4.)

California Statutes

§ 4097.05. — 4097.05. (Added by Stats. 1998, Ch. 421, Sec. 4.)

California·Code INS Insurance Code - INS·Div. 2. DIVISION 2. CLASSES OF INSURANCE·Part 1. PART 1. FIRE AND MARINE INSURANCE·Ch. 4. CHAPTER 4. General Mutual Insurers·Art. 10. ARTICLE 10. Conversion of an Incorporated Medical Malpractice Mutual Insurer into an Incorporated Stock Insurer

A plan of conversion adopted by a medical malpractice mutual insurer to establish a mutual holding company shall provide that the medical malpractice mutual insurer will become a stock insurer, that the members of the medical malpractice mutual insurer will become members of a mutual holding company, that the mutual holding company will acquire at least 51 percent of the voting stock of the stock holding company, and that the stock holding company will acquire all of the voting stock of the converted insurer.

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A plan of conversion adopted by a medical malpractice mutual insurer to establish a mutual holding company shall provide that the medical malpractice mutual insurer will become a stock insurer, that the members of the medical malpractice mutual insurer will become members of a mutual holding company, that the mutual holding company will acquire at least 51 percent of the voting stock of the stock holding company, and that the stock holding company will acquire all of the voting stock of the converted insurer.

California § 4097.05. (4097.05. (Added by Stats. 1998, Ch. 421, Sec. 4.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.