2006 Nebraska Revised Statutes - § 44-224.04 — Domestic stock company merger; contract; approval.

Section 44-224.04
Domestic stock company merger; contract; approval.

Any domestic stock insurance company may merge with another stock insurer after the contract of merger is approved by the director. The director shall not approve any such contract of merger unless the interests of the policyholders or shareholders of both parties thereto are properly protected. If the director does not approve the contract of merger, he or she shall issue a written order of disapproval setting forth his or her findings. After having obtained the approval of the director, the contract of merger shall be consummated in the manner set forth in the Business Corporation Act for the merger or consolidation of stock corporations.

Source:

Laws 1957, c. 180, § 4, p. 621

Laws 1969, c. 362, § 1, p. 1286

Laws 1976, LB 916, § 1

Laws 1989, LB 92, § 74

Laws 1995, LB 109, § 219

Cross References:

Business Corporation Act,see section 21-2001.

~Reissue Revised Statutes of Nebraska