Cualquier sociedad fraternal benéfica del país podrá convertirse y autorizarse como una compañía mutua de seguros de vida cumpliendo con las disposiciones del art. 28.160 de este Código, si el plan de conversión ha sido aprobado por el Comisionado de Seguros. Tal plan será preparado por escrito exponiendo todos los términos y condiciones del mismo. La Junta de Directores lo someterá al cuerpo legislativo o de gobierno supremo de la sociedad en cualquier reunión ordinaria, o extraordinaria, de éste acompañando con el aviso de reunión una copia fiel y exacta de dicho plan. El aviso se dará como se disponga en las leyes de la sociedad para la convocatoria de reuniones ordinarias o extraordinarias del cuerpo, según sea el caso, Se requerirá el voto afirmativo de dos terceras partes de todos los miembros del cuerpo para la aprobación de tal acuerdo. La conversión no será efectiva a menos que, y hasta tanto, sea aprobada por el Comisionado de Seguros, quien podrá impartirle su aprobación si considera que el cambio propuesto cumple con los requisitos de ley y no es perjudicial a los tenedores de certificados de la sociedad.
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