California Insurance Code ARTICLE 16 - Merger of Certain Reciprocal Insurers

• Section 1550.
  This article shall apply only to domestic reciprocal insurers organized after 1974 to provide medical malpractice insurance.(Added by Stats. 1995, Ch. 728, Sec. 3. Effective...
• Section 1551.
  By following the procedure specified in this article, any domestic reciprocal insurer described in this article may merge, consolidate, or otherwise unite with or become...
• Section 1552.
  The plan and agreement by which the transaction is to be effected shall be submitted to the commissioner, who shall examine it and require those...
• Section 1553.
  When the plan and agreement has been approved by the commissioner, with any changes required by him or her, it shall require the approval of...
• Section 1554.
  If one of the insurers that is a party to the transaction is a domestic incorporated insurer, Section 1109 of the Corporations Code shall apply...
• Section 1555.
  (a) If the vote is in the affirmative, a certified copy of all proceedings relating to the proposed transaction shall be filed with the commissioner. If...
• Section 1556.
  (a) If the surviving entity is a domestic incorporated insurer in a merger in which a domestic reciprocal insurer is a constituent party, after approval of...
• Section 1557.
  (a) Any plan of merger, consolidation, or other unification under this article shall provide that all rights and properties of the parties to the plan of...
• Section 1558.
  In the event a domestic reciprocal insurer is merged, is consolidated, or is part of a reorganization pursuant to the procedures specified in this article...
• Section 1559.
  (a) For all purposes for a merger in which the surviving entity is a domestic reciprocal insurer and a domestic incorporated insurer is not a constituent...

Last modified: October 22, 2018