Mutual Insurance Holding Companies - Conversion to Mutual Insurers

Summary

The bill lets a mutual insurance holding company that fully owns a reorganized stock insurer change its whole structure into a mutual insurer. Conversion requires a detailed plan approved by the company’s board, a 75% member vote, and the Maryland Insurance Commissioner’s sign‑off. It aims to protect members and policyholders while giving regulators oversight of the transition.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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