44-6124. Terms, defined.
For purposes of the Mutual Insurance Holding Company Act:
(1) Director means the Director of Insurance;
(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 or indirectly, owns all of 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, directly or indirectly, a majority of the voting securities of one or more intermediate stock holding companies 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 pursuant to subsection (1) or (2) of section 44-6125 and in compliance with the act; 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.
Source
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.