(b) The plan of reorganization shall take effect in accordance with its terms on the date and at the time when the filing in the office of the superintendent required by this section has been made or on such later date or at such later time, if any, as may have been specified in or determined in accordance with the plan or pursuant thereto.
(c) As of the effective date, the superintendent shall issue an amended certificate of authority to the reorganized insurer, and, if the plan of reorganization specifies that the reorganized insurer proposes to continue to issue for delivery in this state participating policies or contracts, the superintendent shall, in accordance with subsection (f) of section four thousand two hundred thirty-one of this chapter, issue a permit authorizing it to do so.
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