2006 Louisiana Laws - RS 22:820 — Mutual insurance holding companies

PART XVII-A. MUTUAL INSURANCE

HOLDING COMPANIES

§820.  Mutual insurance holding companies

A domestic mutual insurance company, upon approval of the commissioner, may reorganize by forming a mutual insurance holding company based upon a mutual plan or by merging its policyholders' membership interests into such a mutual insurance holding company.  The reorganized insurance company shall continue, without interruption, its corporate existence as a stock insurance company subsidiary to the mutual insurance holding company or as a stock insurance company subsidiary to an intermediate holding company which is a subsidiary of the mutual insurance holding company.  A reorganization under this Section is subject to the provisions of R.S. 22:1001 et seq., the Insurance Holding Company System Regulatory Law.

Acts 1997, No. 1482, §1.

NOTE: SEE ACTS 1997, NO. 1482, §2, REGARDING NON-APPLICABILITY TO CERTAIN NONPROFIT MUTUAL ASSOCIATIONS.