83-19-103 - Submission of plan to commissioner of insurance.
§ 83-19-103. Submission of plan to commissioner of insurance.
The constituent corporations in the case of a merger or consolidation, or the domestic company and the acquiring corporation in the case of an exchange of stock, shall then submit to the commissioner of insurance three copies of the proposed plan certified by the president or a vice president of each as having been adopted by its board of directors in accordance with section 83-19-101, together with (a) financial statements of the constituent corporations, or of the domestic company and the acquiring corporation for its last preceding fiscal year; (b) pro forma financial statements of each such corporation based on the assumption that the plan was effective as proposed at the end of the last preceding fiscal year of the domestic company; (c) an estimate of expenses already incurred and of expenses expected to be incurred in connection with the proposed plan; (d) a written statement which sets forth for each such corporation the proposed changes, if any, in management policies and in the identity of its officers and directors, which are initially contemplated should the plan be effected as proposed; and (e) any other information which the commissioner may require with respect to such plan.
Sources: Codes, 1942, § 5670.7-22; Laws, 1972, ch. 419, § 2, eff from and after passage (approved April 27, 1972).