Unless otherwise provided in the plan of conversion, the governing body and officers of the domestic reciprocal insurer shall serve as directors and officers of the converted insurer 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 § 1560.13
Conversion of Certain Reciprocal Insurers to Incorporated Stock Insurers
Added by Stats. 1998, Ch. 421, Sec. 2
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.