379.770. Mergers or consolidation of reciprocal exchanges or interinsurers. - Missouri Statutes

Mergers or consolidation of reciprocal exchanges or interinsurers.

379.770. Two or more domestic reciprocal exchanges or interinsurers maymerge or consolidate on affirmative vote of not less than two-thirds of thesubscribers of each exchange or interinsurer who vote on the merger orconsolidation, pursuant to due notice and prior approval of the director ofthe department of insurance, financial institutions and professionalregistration of this state of the terms and manner of the notice and of themanner and form of the voting and of the proposed merger or consolidation.

(L. 1959 S.B. 31 § 375.895, A.L. 1967 p. 516, A.L. 2001 H.B. 212)