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2001 SESSION

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HB 2255 Mutual insurers; conversion to stock insurers, etc.

Introduced by: Clifton A. (Chip) Woodrum | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Mutual insurers; formation of mutual holding companies. Establishes a procedure for the formation of mutual insurance holding companies. The measure also provides for the conversion of mutual insurance holding companies to stock holding companies. Plans must be approved by the State Corporation Commission and receive the approval of two-thirds of the votes cast by eligible members at a meeting in person or by proxy.


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