379.605. Proposition to surrender to be voted on. - Missouri Statutes

Proposition to surrender to be voted on.

379.605. 1. At the time and place designated, theproposition as to the surrender of the charter, adoption of thegeneral insurance statutes in lieu thereof, reorganizationthereunder, increase of stock, if necessary, and adoption of theproposed articles of association, as submitted or amended, shallbe voted upon.

2. If a stock company, the assent of the persons holding allof the stock issued by the company, and then outstanding, or ifit be a mutual company, the assent of all the policyholders, andif the company be a stock and mutual company, the assent of allthe stockholders and of the policyholders in the mutualdepartment, shall be requisite for the adoption of thepropositions submitted; and, in addition, any company doing astock and mutual business may submit and determine in the samemanner and decide upon continuing either of the two plans ofinsurance and discontinuing the other.

(RSMo 1939 § 5945)

Prior revisions: 1929 § 5834; 1919 § 6244; 1909 § 7035