| HB 0212 (Truly Agreed) | Merging mutual insurance companies shall provide notice in two daily newspapers |
SCS/HB 212 - This act allows the Director of the Department of Insurance to approve a merger between mutual insurance companies if the Director is satisfied that the proposed merger was properly approved pursuant to the articles and bylaws of the companies. This provision is similar to one contained in SCS/SB 241 (2001).
This act removes the requirement that notice be mailed to
each subscriber when a merger between domestic reciprocal
exchanges or interinsurers takes place.
STEPHEN WITTE