{"data":{"id":"us-ky/krs-304.29-151","jurisdiction":"us-ky","citation":"KRS 304.29-151","heading":"Conversion into mutual life insurance company.","body":"Any domestic fraternal benefit society may be converted and licensed as a mutual life\ninsurance company by compliance with all the requirements of the insurance laws of this\nstate for mutual life insurance companies. A plan of conversion shall be prepared in\nwriting by the board of directors setting forth in full the terms and conditions of\nconversion. The affirmative vote of two -thirds (2/3) of all members of the supreme\ngoverning body at a regular or special meeting shall be necessary for the approval of the\nplan. No conversion shall take effect unless and until approved by the commissioner who\nmay give approval if he or she finds that that proposed change is in conformity with the\nrequirements of law and not prejudicial to the certificate holders of the society.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29675","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:52Z","sha256":"30be68e820d1d8d50759029d43a62c2b68bd285a424065150c2d2c1436ae8122","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.29-150","next":"us-ky/krs-304.29-160"},"notice":"GroundRules: Original legal text. Not legal advice."}