Consolidation, merger, and reinsurance.

1. One or more domestic mutual insurance companies organized under chapter 491 may merge or consolidate with a domestic or foreign mutual insurance company as provided in this chapter . 2. One or more domestic insurance companies organized under chapter 490 may merge with a domestic or foreign insurance company as provided in chapter 490 with the approval of the commission pursuant to this chapter . 3. The provisions of this chapter shall not be applicable to the merger or consolidation of a domestic mutual company with a stock company pursuant to chapter 508B or chapter 515G . 4. A domestic insurance company shall not assume or reinsure the whole or any part of the risks of any other company, except as provided in this chapter . However, this chapter shall not be construed to prevent any company, as defined in section 521.1 , from reinsuring a fractional part of any risk. 5. One or more foreign or domestic stock insurance companies may merge into a domestic mutual insurance company organized under chapter 491 as provided in this chapter . 6. One or more domestic health maintenance organizations or limited service organizations formed under chapter 514B may merge into a domestic insurance company organized under chapter 490 or chapter 491 as provided in this chapter . 7. Sections 491.102 through 491.105 shall not be applicable to a merger or consolidation of a domestic mutual insurance company pursuant to this chapter . [S13, §1821-n; C24, 27, 31, 35, 39, § 9105; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §521.2 ] 95 Acts, ch 185, §42 ; 2006 Acts, ch 1117, §99 ; 2007 Acts, ch 137, §21 ; 2009 Acts, ch 145, §51 ; 2011 Acts, ch 70, §40, 41 Referred to in §508.33A