South Carolina Statutes
§ 38-19-1160 — Filing articles of incorporation; issuance of certificate of authority.
The reorganized insurer shall file the articles of incorporation of the mutual holding company, the reorganized stock insurer, and any holding company subsidiaries with the Director of the Department of Insurance for his approval before filing them with the Secretary of State. The director shall issue a certificate of authority when the mutual insurer files with the director a certificate from the mutual insurer setting forth the vote and certifying that the plan of reorganization was approved by not less than a two-thirds majority of the policyholders voting in person or by proxy on the plan of reorganization, that the articles of incorporation have been filed with the Secretary of State, and payment of all applicable fees to the Department of Insurance. The reorganization shall be effect
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South Carolina § 38-19-1160 (Filing articles of incorporation; issuance of certificate of authority.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1998 Act No. 413, SECTION 1.
Nearby Sections
15
§ 38-19-10
Membership in mutual insurer.§ 38-19-1010
Fire and storm insurance; suits; seals.§ 38-19-1020
Directors and officers; regulations.§ 38-19-1030
Liability of members; property pledged; lien.§ 38-19-1050
Limit of amount insurance.§ 38-19-1110
Authorization to reorganize.§ 38-19-1120
Transition to domestic mutual insurance holding company system; membership interests of policyholders.§ 38-19-1130
Plan of reorganization; approval; contents.§ 38-19-1150
Policyholder meeting to vote on plan.§ 38-19-1180
Dividends and distributions; effect of adoption or implementation of plan of reorganization.§ 38-19-1190
Demutualization.