Unless otherwise provided in the plan of conversion, the directors and officers of the mutual company shall serve as directors and officers of the converted company until new directors and officers have been duly elected and qualified pursuant to the articles of incorporation and bylaws of the stock company.
Cal. Ins. Code § 11543
Authority and Requirements to Convert
Known as the Health Insurance Disclosure Act
The act spans §§ 10110–11549 (1,209 sections).
Amended by Stats. 1996, Ch. 406, Sec. 17
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.