{"data":{"id":"us-ky/krs-304.37-550","jurisdiction":"us-ky","citation":"KRS 304.37-550","heading":"Application for approval of reorganization or merger.","body":"The reorganizing or merging insurer shall file with the commissioner an application\nrequesting approval of the proposed reorganization or merger. The application shall\ninclude the following:\n(1) A Form A filing as described in KRS 304.37 -120 and the administrative regulations\npromulgated thereunder;\n(2) A plan of reorganization as described in KRS 304.37-555;\n(3) A plan to obtain the approval by a majority of two -thirds (2/3) of the participating\npolicyholders in accordance with the applicant's articles of incorporation and\nbylaws. Policyholders must be provided with sufficient information to evaluate the\nmerits of the proposed transaction, including a description of the purpose of the\ntransaction, risks associated with the transaction, and alternatives cons idered.\nPolicyholders shall be given not less than twenty (20) days' notice of any vote on\napproval of the reorganization;\n(4) A copy of the mutual insurance holding company's proposed articles of\nincorporation and bylaws specifying all membership rights;\n(5) The names, addresses, and occupational information of all corporate officers and\nmembers of the initial mutual insurance holding company board of directors;\n(6) Information sufficient to demonstrate that the financial condition of the applicant\nwill not be diminished upon reorganization;\n(7) A copy of the proposed articles of incorporation and bylaws for any insurance\ncompany subsidiary or intermediate holding company subsidiary;\n(8) An index demonstrating where in the application information supplied i n\ncompliance with each of the foregoing provisions is found; and\n(9) Any other information requested by the commissioner at any time during the\nproceedings.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29955","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:56Z","sha256":"b679c757444fdb75cb49334ebf76125db6ee44d5aee94100361693f4ab4dc8b6","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.37-545","next":"us-ky/krs-304.37-555"},"notice":"GroundRules: Original legal text. Not legal advice."}