ยง 7315. Reorganization of domestic life insurance companies.
Notwithstanding any other provision of this chapter, a domestic mutual
life insurance company which has a surplus of less than one million
dollars as shown on its last filed annual statement may reorganize into
a domestic stock life insurance company in accordance with a plan of
reorganization found by the superintendent to be fair and equitable.
Structure New York Laws
Article 73 - Conversion to Different Type of Insurer
7302 - Conversion of Stock Life Insurance Companies Into Mutual Companies.
7303 - Conversion of Retirement Systems Into Mutual Life Insurance Companies.
7304 - Conversion of Fraternal Benefit Societies Into Mutual Life Insurance Companies.
7305 - Conversion of Assessment Corporations Into Advance Premium Corporations.
7308 - Conversion of Domestic Reciprocal Insurers Into Stock Property/casualty Insurance Companies.
7309 - Conversion of Domestic Reciprocal Insurers Into Mutual Property/casualty Insurance Companies.
7312 - Reorganization of a Domestic Mutual Life Insurer Into a Domestic Stock Life Insurer.
7313 - Reorganization of Domestic Mutual Accident and Health Insurance Companies.
7315 - Reorganization of Domestic Life Insurance Companies.
7316 - Conversion of Savings Banks Life Insurance Into a Mutual Life Insurance Company.