GroundRules
INS § 4097
Where this section sits in the code
- Insurance Code - INS
- DIVISION 2. CLASSES OF INSURANCE [1880. - 12880.8.]
- PART 1. FIRE AND MARINE INSURANCE [1880. - 10108.1.]
- CHAPTER 4. General Mutual Insurers [4010. - 4097.20.]
- ARTICLE 10. Conversion of an Incorporated Medical Malpractice Mutual Insurer into an Incorporated Stock Insurer [4097. - 4097.20.]
(a) A domestic incorporated medical malpractice mutual insurer, issuing nonassessable policies on a reserve basis may be converted into an incorporated stock insurer issuing, on a reserve basis, nonassessable policies either by demutualization or by establishing a mutual holding company. To that end, it may provide and carry out a plan for the conversion by complying with the requirements of this article.
(b) A mutual holding company may be converted into a stock corporation. To that end, it may provide and carry out a plan for the conversion by complying with the requirements of this article.
(c) As part of the conversion authorized in this section, a domestic incorporated medical malpractice mutual insurer may merge with an incorporated stock insurer, if the merging insurers comply with the provisions of Article 9 (commencing with Section 4090) applicable to their participation in the merger, or may transfer its domicile to any other state, if the insurer complies with Section 709.5.
Collected 2026-09-14T05:56:33Z. Source file · JSON