For purposes of this subchapter, unless the context requires otherwise:
(1) "Commissioner" means the Insurance Commissioner;
(2) "Intermediate stock holding company" means a holding company of which at least a majority of the voting securities are owned by a mutual insurance holding company and which directly owns all the voting securities of a reorganized stock insurer;
(3) "Mutual insurance holding company" means a holding company based on a mutual plan which at all times owns a majority of the voting securities of a single intermediate stock holding company or, if no such intermediate stock holding company exists, which owns a majority of the voting securities of a reorganized stock insurer;
(4) "Reorganized stock insurer" means a stock insurer subsidiary which results from a reorganization of a domestic mutual insurer under ยง 23-69-304(a)(1) or (a)(2) and in compliance with this subchapter; and
(5) "Voting securities" means securities of any class or any ownership interest having voting power for the election of directors, trustees, or management, other than securities having voting power only because of the occurrence of a contingency.
Section: Previous 23-69-302 23-69-303 23-69-304 23-69-305 23-69-306 23-69-307 23-69-308 23-69-309 23-69-310 23-69-311 23-69-312 23-69-313 23-69-314 23-69-315 NextLast modified: November 15, 2016