Section 819-A. Prohibition on Acquisitions of Control.--Except as otherwise specifically provided in section 804-A, from the date a plan of conversion is adopted by the board of directors of a mutual insurance company until the effective date of the plan of conversion, no person shall directly or indirectly offer to acquire, make any announcement to acquire or acquire in any manner, including making a filing with the department for such acquisition under a statute or regulation of this Commonwealth, the beneficial ownership of ten per centum (10%) or more of a class of a voting security of the converted stock company or of a person which controls the voting securities of the converted stock company.
(819-A added Dec. 21, 1998, P.L.1108, No.150)
Compiler's Note: Section 13(b) of Act 150 of 1998, which added section 819-A, provided that section 819-A shall not be applicable to any offer to acquire, announcement to acquire or acquisition of voting securities of a converted stock company, which coverted prior to the effective date of Act 150 or which converts after the effective date of Act 150 pursuant to an application filed in the Insurance Department prior to the effective date of Act 150.