Allows certain domestic mutual property/casualty insurers to form mutual holding companies and reorganize into domestic stock property/casualty.

The bill provides for the formation of mutual holding companies by certain domestic mutual property/casualty insurers and the reorganization of a domestic mutual property/casualty insurer into a domestic stock property/casualty insurer. It outlines the process for approving a plan of reorganization, including requirements for notice to eligible members, voting procedures, and superintendent approval.

Allows certain domestic mutual property/casualty insurers to form mutual holding companies and reorganize into domestic stock property/casualty.

The bill provides for the formation of mutual holding companies by certain domestic mutual property/casualty insurers and the reorganization of a domestic mutual property/casualty insurer into a domestic stock property/casualty insurer. It outlines the process for approving a plan of reorganization, including requirements for notice to eligible members, voting procedures, and superintendent approval.