Mutual Insurance Holding Companies - Conversion to Mutual Insurers

Summary

The bill lets a mutual insurance holding company change its structure to become a mutual insurer, provided it follows a detailed conversion plan. The plan must be approved by the board, receive at least 75% member support, and be accepted by the state insurance commissioner. It is intended to protect policyholders while giving companies more flexibility.

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

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