ARTICLE 16. Merger of Certain Reciprocal Insurers [1550. - 1559.]

Article 16 added by Stats. 1995, Ch. 728, Sec. 3.

§§ 1550–1559 · 10 sections

• § 1550 This article shall apply only to domestic reciprocal insurers organized after 1974 to provide medical malpractice insurance.
• § 1551 By following the procedure specified in this article, any domestic reciprocal insurer described in this article may merge, consolidate, or otherwise unite with…
• § 1552 The plan and agreement by which the transaction is to be effected shall be submitted to the commissioner, who shall examine it and require those provisions to…
• § 1553 When the plan and agreement has been approved by the commissioner, with any changes required by him or her, it shall require the approval of each domestic…
• § 1554 If one of the insurers that is a party to the transaction is a domestic incorporated insurer, Section 1109 of the Corporations Code shall apply if the…
• § 1555 (a) If the vote is in the affirmative, a certified copy of all proceedings relating to the proposed transaction shall be filed with the commissioner. If one of…
• § 1556 (a) If the surviving entity is a domestic incorporated insurer in a merger in which a domestic reciprocal insurer is a constituent party, after approval of the…
• § 1557 (a) Any plan of merger, consolidation, or other unification under this article shall provide that all rights and properties of the parties to the plan of…
• § 1558 In the event a domestic reciprocal insurer is merged, is consolidated, or is part of a reorganization pursuant to the procedures specified in this article and…
• § 1559 (a) For all purposes for a merger in which the surviving entity is a domestic reciprocal insurer and a domestic incorporated insurer is not a constituent…