{"data":{"id":"us-ky/krs-304.29-141","jurisdiction":"us-ky","citation":"KRS 304.29-141","heading":"Consolidations and mergers.","body":"(1) A domestic society may consolidate or merge with any other society by complying\nwith the provisions of this section. It shall file with the commissioner:\n(a) A certified copy of the written contract containing in full the terms and\nconditions of the consolidation or merger;\n(b) A sworn statement by the president and secretary or corresponding officers of\neach society showing the financial condition thereof on a date fixed by the\ncommissioner but not earlier than December 31, next preceding the date of the\ncontract;\n(c) A certificate of the officers, duly verified by their respective oaths, that the\nconsolidation or merger has been approved by a two -thirds (2/3) vote of the\nsupreme governing body of each society, the vote being conducted at a regular\nor special meeting of each body, or, if the society's laws so permit, by mail;\nand\n(d) Evidence that at least sixty (60) days prior to the action of the supreme\ngoverning body of each society, the text of the contract has been furnished to\nall members of each soci ety either by mail or by publication in full in the\nofficial publication of each society.\n(2) If the commissioner finds that the contract is in conformity with the provisions of\nthis section, that the financial statements are correct and that the consolida tion or\nmerger is just and equitable to the members of each society, the commissioner shall\napprove the contract and issue a certificate to that effect. Upon approval, the\ncontract shall be in full force and effect unless any society which is a party to th e\ncontract is incorporated under the laws of any other state or territory. If the\nconsolidation or merger shall not become effective unless and until it has been\napproved as provided by the laws of the state or territory and a certificate of\napproval filed  with the commissioner of this state or, if the laws of the state or\nterritory contain no such provision, the consolidation or merger shall not become\neffective unless and until it has been approved by the commissioner of insurance of\nthe state or territory and a certificate of the approval filed with the commissioner of\nthis state.\n(3) Upon the consolidation or merger becoming effective, all the rights, franchises and\ninterests of the consolidated or merged societies in and to every species of property,\nreal, personal or mixed, and things in action thereunto belonging shall be vested in\nthe society resulting from or remaining after the consolidation or merger without\nany other instrument, except that conveyances of real property may be evidenced by\nproper d eeds; and the title to any real estate or interest therein, vested under the\nlaws of this state in any of the societies consolidated or merged, shall not revert or\nbe in any way impaired by reason of the consolidation or merger, but shall vest\nabsolutely i n the society resulting from or remaining after the consolidation or\nmerger.\n(4) The affidavit of any officer of the society or of anyone authorized by it to mail any\nnotice or document, stating that the notice or document has been duly addressed and\nmailed, shall be prima facie evidence that the notice or document has been\nfurnished the addressees.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29673","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:52Z","sha256":"9d6ac5ce8fdcad175d47f285ac34ec1629453a19af1aaebe63ac254812b71f3f","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.29-140","next":"us-ky/krs-304.29-150"},"notice":"GroundRules: Original legal text. Not legal advice."}