§ 26-27-128 — Merger or conversion

(a) A domestic reciprocal insurer may merge with another
reciprocal insurer or be converted to a stock or mutual insurer,
upon affirmative vote of not less than two-thirds (2/3) of its
subscribers who vote on the question pursuant to proper notice
and the commissioner's approval of the merger terms.
(b) Any stock or mutual insurer specified in subsection
(a) of this section is subject to the same capital or surplus
requirements and has the same rights as a like domestic insurer
transacting like kinds of insurance.
(c) The commissioner shall not approve any plan for merger
or conversion which is inequitable to subscribers, or which, if
for conversion to a stock insurer, does not give each subscriber
preferential right to acquire stock of the proposed insurer
proportionate to his interest in the reciprocal insurer as
determined in accordance with W.S. 26-27-127 and a reasonable
length of time within which to exercise that right.