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127 chapters · 4,511 sections in this title.
Ins. Code § 11535 Section 11535
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(a) A domestic incorporated mutual life insurer, or life and disability insurer, issuing nonassessable policies on a reserve basis may be converted into an incorporated stock life or stock life and disability insurer issuing, on a reserve basis, nonassessable policies of life ins…
Ins. Code § 11535.1 Section 11535.1
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The definitions in this section apply to the following terms when used in this chapter. (a) “Adoption date” means the date the board of directors adopts the plan of conversion. (b) “Converted company” means the converted insurer or converted mutual holding company, as the case ma…
Ins. Code § 11536 Section 11536
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The plan of conversion shall include appropriate proceedings for amending the mutual company’s articles of incorporation to give effect to the conversion from a nonstock corporation into a stock corporation. The plan shall be: (a) Approved by a resolution of the majority of the b…
Ins. Code § 11537 Section 11537
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For the conversion of a mutual property-casualty insurer, the plan for conversion shall include the following: (a) A fair and reasonable formula, approved by the commissioner, for determining the equity of each eligible member in the insurer. The equity shall be based upon an app…
