2005 Minnesota Statutes - 61A.33 — Stock and mutual life insurance companies.

     61A.33 Stock and mutual life insurance companies.  


    Insurance corporations for the transaction of the kinds of 
 business authorized and permitted by section 60A.06, subdivision 
 1, clause (4), and subject to these provisions and limitations, 
 may be formed having a capital stock, but which shall be 
 controlled by the votes of both stockholders and participating 
 policyholders.  All such companies shall be known as stock and 
 mutual companies.  Corporations so formed shall have the right 
 to make any contracts which insurance companies formed to 
 transact the same kinds of business upon the stock plan or upon 
 the mutual plan are authorized by law to make.  


    HIST: 1967 c 395 art 2 s 33