California Insurance Code

§ 11547

INS § 11547 Effective Aug 19, 1996Div. 2 · Part 2 · Ch. 14 · Art. 1

Statute text

(a)The amended articles of incorporation of a converted company that have been adopted pursuant to a plan of conversion and filed with the Secretary of State in accordance with Section 11542 may be further amended after the effective date pursuant to applicable law. The plan of conversion may be amended in other respects after the effective date of the plan as specified in this section. Such an amendment shall take effect upon filing with the Secretary of State after compliance with the following:

(1)Approval by a resolution of the majority of the board of directors of the converted company. The resolution shall specify the reasons for and the purposes of the proposed amendment.

(2)Submission to the commissioner for consent in writing, subject to the provisions of Section 11538.

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Legislative history

Added by Stats. 1996, Ch. 406, Sec. 19. Effective August 19, 1996.