Legislation
SECTION 7315
Reorganization of domestic life insurance companies
Insurance (ISC) CHAPTER 28, ARTICLE 73
§ 7315. Reorganization of domestic life insurance companies.
Notwithstanding any other provision of this chapter, a domestic mutual
life insurance company which has a surplus of less than one million
dollars as shown on its last filed annual statement may reorganize into
a domestic stock life insurance company in accordance with a plan of
reorganization found by the superintendent to be fair and equitable.
Notwithstanding any other provision of this chapter, a domestic mutual
life insurance company which has a surplus of less than one million
dollars as shown on its last filed annual statement may reorganize into
a domestic stock life insurance company in accordance with a plan of
reorganization found by the superintendent to be fair and equitable.