Effective – 28 Aug 1996 376.1300. Reorganization of a domestic mutual life insurance company, authority. — A domestic mutual life insurance company organized and operating pursuant to this chapter may reorganize by forming a mutual life insurance holding company as described in section 376.1309 or by merging its policyholders’ memberships into such a mutual life […]
Effective – 28 Aug 1996 376.1305. Formation of holding company, application — shareholder approval. — 1. A mutual life insurance company proposing to reorganize pursuant to sections 376.1300 to 376.1322 shall form a mutual life insurance holding company, which may hereafter be referred to as a mutual holding company, and shall file an application with […]
Effective – 28 Aug 1996 376.1307. Issuance of shares. — All of the shares, if any are issued, of the capital stock of the reorganized life insurance company shall be issued to the mutual holding company, which shall at all times own a majority of the voting shares of the capital stock of the reorganized […]
Effective – 28 Aug 1996 376.1309. Member’s interest — nontransference of membership — immunity from liability — assessments, not imposed — security, membership interest. — 1. The membership interest of the policyholders of a reorganized life insurance company shall become membership interests in the mutual holding company. Policyholders of the reorganized life insurance company shall […]
Effective – 28 Aug 1996 376.1312. Nonapplicability of certain provisions of insurance holding companies law. — Sections 382.040, 382.060, and 382.095 shall not apply to a reorganization or merger pursuant to the provisions of sections 376.1300 to 376.1322. ——– (L. 1996 S.B. 759)
Effective – 28 Aug 1996 376.1315. Incorporation of mutual holding company, authority, approval. — Notwithstanding any provision of this chapter to the contrary, a mutual holding company organized pursuant to section 376.1300 shall be incorporated pursuant to this chapter. The articles of incorporation and any amendments to such articles of the mutual holding company shall […]
Effective – 28 Aug 1996 376.1318. Powers of mutual holding company, engaging in business of insurance, no authority, affiliation and merger agreements. — A mutual holding company shall have the same powers granted to domestic insurance companies pursuant to chapter 382 relating to insurance holding company systems, and shall be subject to the requirements and […]
Effective – 28 Aug 1996 376.1322. Mutual holding company subject to supervision of director, dissolution or liquidation — demutualization. — 1. A mutual holding company is subject to the supervision of the director of the department of commerce and insurance in the same manner as an insurer subject to the provisions of this chapter and […]
