§ 10-3-605 — Filing plan of exchange

Colorado § 10-3-605

• Jurisdiction: Colorado
• Title 10: Insurance
• Art.: Regulation of Insurance Companies

Text

Not earlier than thirty-one days after the
date of the meeting of shareholders of the domestic company at which the plan of
exchange was approved by such shareholders, a certificate setting forth the plan of
exchange, the manner of the approval thereof by the directors of the acquiring
corporation and the domestic company, and the manner of its approval by the
shareholders of the domestic company and the vote by which approved by the
shareholders of the domestic company, or setting forth that the plan of exchange
has been abandoned, shall be signed on behalf of each such corporation by its
president or a vice-president and shall then be presented in triplicate to the
commissioner at his office for filing. The commissioner shall file one copy of such
certificate in his office and shall deliver copies bearing the date and time of filing
endorsed thereon to the domestic company and the acquiring corporation. Upon the
filing of such certificate, unless it sets forth that the plan of exchange has been
abandoned, the plan of exchange and the issuance and exchange provided for
therein shall become effective, unless a later date and time is specified in the plan
of exchange, in which event the plan of exchange and the issuance and exchange
provided for therein shall become effective upon such later date and time.

Legislative History

Source: L. 69: p. 533, � 5. C.R.S. 1963: � 72-27-5.