District of Columbia § 31-905 Adoption of revised articles of incorporation.

District of Columbia Statutes

§ 31-905 — Adoption of revised articles of incorporation.

District of Columbia·Title 31 Insurance and Securities.·Ch. 9 Insurance Demutualization.

(a)Adoption of the revised articles of incorporation of the converted stock company is necessary to implement the plan and shall be governed by the applicable provisions of District law.

(b)For a Class 1 mutual company, the members may adopt the revised articles of incorporation at the same meeting at which the members approve the plan.

(c)For a Class 2 or 3 mutual company, the revised articles of incorporation may be adopted solely by the board of directors or trustees, as provided by District law.

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(a) Adoption of the revised articles of incorporation of the converted stock company is necessary to implement the plan and shall be governed by the applicable provisions of District law.

(b) For a Class 1 mutual company, the members may adopt the revised articles of incorporation at the same meeting at which the members approve the plan.

(c) For a Class 2 or 3 mutual company, the revised articles of incorporation may be adopted solely by the board of directors or trustees, as provided by District law.

District of Columbia § 31-905 (Adoption of revised articles of incorporation.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.