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§7315 . Reorganization of domestic life insurance companies. Notwithstanding any other provision of this chapter, a domestic mutual life insurance company which has a surplus of less than $1,000,000 as shown on its last filed annual statement may reorganize into a domestic stock life insurance company in accordance with a plan of reorganization found by the superintendent to be fair and equitable. Source Data downloaded: 2009-04-09 15: 50: 11; Processed: 2009-05-08 15: 36: 32 |
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