§ 22:76 — Prior approval required for merger of domestic insurer

§76. Prior approval required for merger of domestic insurer
No domestic insurer shall merge with another person without the prior approval of
the commissioner, who may grant such approval upon written request of a domestic insurer.
The request shall include the articles or plan of merger, a pro-forma consolidated financial
statement for the merging entities, and other information as the commissioner may require
to determine that the merger is not detrimental to the policyholders or to the financial
solvency of the insurer. If the merger may result in a change of control of a domestic insurer,
the requirements of this Section may be consolidated with those of R.S. 22:691.4.

Legislative History

Acts 2016, No. 379, §1.