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Senate Bill 1056 |
Senate Author: Wentworth et al. |
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Effective: 6-15-07 |
House Sponsor: Smithee |
Senate Bill 1056 amends the Insurance Code to authorize the conversion of a reciprocal or interinsurance exchange to a stock company through the creation of a mutual holding company. The bill includes provisions relating to the mutual holding company structure, plan adoption and approval, and the rights of members.