Statute · California Insurance Code
Cal. Ins. Code § 11537.2 — Authority and Requirements to Convert
Cal. Ins. Code § 11537.2
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Date
- 1996-08-19
- Current through
- Nov 2, 2026 (California Legislative Counsel)
A plan of conversion adopted by a mutual life insurer for the establishment of a mutual holding company shall provide that the mutual life insurer will become a stock life insurer, that the members of the mutual life insurer will become members of a mutual holding company, that the mutual…
Citator
Cal. Ins. Code § 11537.2 — Authority and Requirements to Convert is in force in the current edition of the Code, and nothing recorded condemns it.
A plan of conversion adopted by a mutual life insurer for the establishment of a mutual holding company shall provide that the mutual life insurer will become a stock life insurer, that the members of the mutual life insurer will become members of a mutual holding company, that the mutual holding company will acquire at least 51 percent of the voting stock of the stock holding company, and that the stock holding company will acquire all of the voting stock of the converted insurer.