{"data":{"id":"us-ms/miss.-code-ann.-83-31-127","jurisdiction":"us-ms","citation":"Miss. Code Ann. § 83-31-127","heading":"Alternative conversion plans that do not rely on nontransferable subscription rights.","body":"(1) The board of directors may adopt a conversion plan that does not rely wholly or partially on issuing nontransferable subscription rights to members to purchase stock of the converted stock company if the commissioner finds that the alternative conversion plan complies with Section 83-31-107(3).\n(2) An alternative conversion plan may:\n(a) Include the merger of a domestic mutual insurance company into a domestic or foreign stock insurance company;\n(b) Provide for issuing stock, cash, or other consideration to members instead of subscription rights;\n(c) Provide for the formation of a mutual holding company under Section 83-31-145 et seq.; or\n(d) Set forth another plan containing any other provisions approved by the commissioner.\n(3) The commissioner may retain, at the mutual insurance company’s expense, a qualified expert or experts, including but not limited to appraisers, actuaries, accountants and attorneys, not otherwise a part of the commissioner’s staff to assist in reviewing whether the alternative conversion plan may be approved by the commissioner.","path":["Title 83. Insurance","Chapter 31. Mutual Companies","Mississippi Mutual Insurance Company Conversion, Reorganization and Merger Act"],"source_url":"https://archive.org/download/gov.ms.code.ann.2018/release78.2020.07.08/gov.ms.code.title.83.odt","current_through":"2020-07-08","vintage":"Mississippi Code Release 78 (2020-07), retrieved 2026-09-17","retrieved_at":"2026-10-27T05:54:33Z","sha256":"54cf61ab987d0ef62dbeaf5a19d7a1a4156e7c6329c58fc659b1900b4111ee95","source_id":"us-ms","stale":false,"prev":"us-ms/miss.-code-ann.-83-31-125","next":"us-ms/miss.-code-ann.-83-31-129","notices":[{"id":"open-us-law","title":"Open US Law compilation","text":"Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text.","url":"https://huggingface.co/datasets/vaquill/open-us-law","license_url":"https://creativecommons.org/licenses/by/4.0/"},{"id":"pro-ms","title":"Mississippi Release 78 supplement","text":"Mississippi electronic product files were republished by Public.Resource.Org under a public-domain dedication. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows.","url":"https://archive.org/details/gov.ms.code.ann.2018"}]},"notice":"GroundRules: Original legal text. Not legal advice."}