379.980. Reorganization of domestic mutual insurance company, authority. — A domestic mutual insurance company organized and operating under this chapter may reorganize by forming a mutual insurance holding company as described in section 379.985, or by merging its policyholders' membership into such a mutual insurance holding company. The reorganized insurance company shall continue its corporate existence, either at the time of the reorganization or at some later time as a stock insurance company, or as a mutual insurance company. This authority is in addition to powers granted pursuant to chapter 382.
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(L. 1996 S.B. 759)