Colorado § 10-3-1716 Merger or consolidation effective with division

Colorado Statutes

§ 10-3-1716 — Merger or consolidation effective with division

Colorado·Title 10 Insurance·Art. Regulation of Insurance Companies

(1)To facilitate the merger or consolidation of any resulting insurer with and into another company simultaneously with the effectiveness of a division authorized by this part 17, a dividing insurer, including its officers, directors, and shareholders, may:

(a)Adopt and execute a plan of merger or consolidation on behalf of a resulting insurer;

(b)Execute and deliver documents, plans, certificates, and resolutions; and

(c)Make any filings, in each case, on behalf of the resulting insurer.

(2)If so provided in a plan of merger or consolidation described in this section, the merger or consolidation is effective simultaneously with the effectiveness of a division authorized by this part 17.

(3)On request of the dividing insurer, the commissioner may waive the other requireme

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(1) To facilitate
the merger or consolidation of any resulting insurer with and into another company
simultaneously with the effectiveness of a division authorized by this part 17, a
dividing insurer, including its officers, directors, and shareholders, may:

(a) Adopt and execute a plan of merger or consolidation on behalf of a
resulting insurer;

(b) Execute and deliver documents, plans, certificates, and resolutions; and

(c) Make any filings, in each case, on behalf of the resulting insurer.

(2) If so provided in a plan of merger or consolidation described in this
section, the merger or consolidation is effective simultaneously with the
effectiveness of a division authorized by this part 17.

(3) On request of the dividing insurer, the commissioner may waive the other
requirements of this section with respect to any merger or consolidation involving
only domestic stock insurers and may issue the commissioner's final approval of the
merger or consolidation as part of the commissioner's approval of a plan of division
under this part 17.

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