40-508. Same; merger and consolidation defined.

40-508

Chapter 40.--INSURANCE Article 5.--MUTUAL LIFE INSURANCE COMPANIES

      40-508.   Same; merger and consolidation defined.As used in this act:

      (a)   "Merger" means the union of two (2) or more companies into a singlecompany which is one of the companies so uniting.

      (b)   "Consolidation" means the joining of two (2) or more companies ina manner so that a single new consolidated company results therefrom.

      History:   L. 1980, ch. 135, § 1; July 1.