"Eligible member"

Sec. 13. "Eligible member" means, with respect to a plan, a person who is a member of a mutual insurance company or mutual insurance holding company, as applicable, on the adoption date of a plan and: (1) solely for purposes of receipt of notice of and voting at a meeting of members on a plan of reorganization, continues to be a member of the mutual insurance company on the record date for the meeting of members; or (2) solely for purposes of eligibility to receive stock subscription rights, if any, under a plan to issue stock, continues to be a member of the mutual insurance company or mutual insurance holding company, as applicable, on the date the commissioner approves the plan to issue stock. As added by P.L.226-2023, SEC.30.