Procedure for reorganization.

NRS 693A.575 Procedure for reorganization. A domestic mutual insurer may, by complying with NRS 693A.550 to 693A.665, inclusive, and obtaining the approval of the Commissioner, reorganize by: 1. Merging the membership interests of its policyholders into: (a) A mutual insurance holding company formed for the purpose of the reorganization; or (b) An existing mutual insurance holding company; and 2. Continuing the corporate existence of the mutual insurer as a stock insurer subsidiary of the mutual insurance holding company. (Added to NRS by 2001, 2241)