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(a) A stipulated premium plan insurer may merge or consolidate into another stipulated premium plan insurer or into a stock insurer authorized to transact insurance in this state, or it may adopt a plan of exchange of the outstanding stock of its stockholders in accordance with the procedures prescribed by §§ 23-69-142 — 23-69-148.
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(b) A mutual assessment insurer may merge into a stipulated premium plan insurer under § 23-72-119.
