2013 Mississippi Code
Title 83 - INSURANCE
Chapter 19 - DOMESTIC COMPANIES
MERGER OR CONSOLIDATION, OR EXCHANGE OF OUTSTANDING STOCK, OF DOMESTIC STOCK COMPANIES
§ 83-19-117 - When stockholders' vote unnecessary
If the domestic company owns at least ninety-five percent (95%) of the outstanding shares of another domestic or foreign stock insurance company, it may merge such other company into itself without approval by a vote of the shareholders of either company in accordance with the general laws of this state governing merger of subsidiary corporations. In such event, the approval of the commissioner of insurance shall be obtained in the manner specified in Sections 83-19-103 through 83-19-107.
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