Mississippi Code
Merger or Consolidation, or Exchange of Outstanding Stock, of Domestic Stock Companies
§ 83-19-123. Construction and effect of Sections 83-19-99 through 83-19-123

Nothing contained in Sections 83-19-99 through 83-19-123 shall affect the power of the commissioner of insurance to regulate, supervise and control insurance companies to the extent of and as provided by Title 83, Mississippi Code of 1972. Nothing contained in Sections 83-19-99 through 83-19-123 shall be construed to authorize any insurance company to engage in any kinds of insurance business not authorized by its charter or to authorize any acquiring corporation which is not an insurance company to engage directly in the business of insurance. Subsequent to the effective date of any plan of exchange, the commissioner of insurance, having regard to the findings stated in Section 83-19-107, shall have authority to require that the affairs of the domestic company be conducted in such manner as to assure the continued safe conduct and transaction of the business of insurance of the domestic company.

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