Insurance; division of a domestic insurer into two or more resulting domestic insurers; provisions

A BILL to be entitled an Act to amend Title 33 of the O.C.G.A., relating to insurance, so as to provide for the division of a domestic insurer into two or more resulting domestic insurers; to provide for definitions; to provide for a plan of division subject to approval by the Insurance Commissioner; to provide for a certificate of division; to provide for the effect of a division; to provide for the responsibilities of a resulting insurer; to provide for shareholder appraisal rights; to provide for rules and regulations; to revise the authorization and procedure for merger or consolidation; to amend Part 1 of Article 13 of Chapter 2 of Title 14 of the O.C.G.A., relating to the right to dissent and obtain payment for shares, so as to add the right to dissent and obtain payment for shares for a division of a domestic insurer; to provide for related matters; to repeal conflicting laws; and for other purposes.