Maine Statutes
§ 24-A §3490 — Conversion of mutual holding company
Maine·Title 24-A MAINE INSURANCE CODE·Ch. 47 ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS
1.Approval of reorganization plan.
A mutual holding company may be reorganized in accordance with a plan of reorganization:
2.Membership interests disposition.
A plan of reorganization pursuant to subsection 1 must provide for extinguishment of the membership interests in the mutual holding company and may provide for either:
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Legislative History
PL 1999, c. 656, §5 (NEW).
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