(1) In the sale, lease, exchange, or mortgage of assets with or without shareholder action, and concerning the rights of dissenting shareholders in those transactions, Sections 16-10a-1201, 16-10a-1202, 16-10a-1320 through 16-10a-1328, 16-10a-1330, and 16-10a-1331 apply to stock corporations. In the sale, lease, exchange, or mortgage of assets, Section 16-6a-1201 applies to mutuals.
(2)Chapter 16, Insurance Holding Companies, applies to: (a) the sale of a domestic insurer's assets or book of business, other than in the ordinary course of business; or (b) the insurer entering into contracts of reinsurance which have substantially the same effect as a merger.
(a) the sale of a domestic insurer's assets or book of business, other than in the ordinary course of business; or
(b) the insurer entering into contracts of reinsurance which have substantially the same effect as a merger.
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