reglab/housing_qa huggingface dataset:
LA Rev Stat § 22:232.8 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§232.8. Failure to give notice

RS 232.8 - Failure to give notice If the mutual insurance company complies substantially and in good faith with the notice requirements of R.S. 22:695, the mutual insurance company's failure to give any policyholder any required notice does not impair the validity of any action taken under R.S. 22:231 or this Subpart. Acts 1997, No. 1482, §1; Redesignated from R.S. 22:1004.8 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Redesignated from R.S. 22:702 by Acts 2012, No. 294, §3.
LA Rev Stat § 22:233 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§233. Redesignated as R.S. 22:1203 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.

RS 233 - Redesignated as R.S. 22:1203 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:234 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§234. Redesignated as R.S. 22:1204 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.

RS 234 - Redesignated as R.S. 22:1204 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:235 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§235. Redesignated as R.S. 22:1205 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.

RS 235 - Redesignated as R.S. 22:1205 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:236.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§236.1. Conversion of mutual insurers and mutual insurance holding companies authorized

RS 236.1 - Conversion of mutual insurers and mutual insurance holding companies authorized A. A mutual insurer may, pursuant to R.S. 22:71 and 72 and to the provisions of this Subpart, reorganize into a stock insurance company that may be or become a subsidiary of a parent corporation that is or has been formed for the purpose of acquiring, directly or indirectly, all of the common stock of such reorganized insurer. B. A mutual insurance holding company may, pursuant to the provisions of this Subpart, reorganize into a stock insurance holding company. Acts 2008, No. 307, §1, eff. June 17, 2008.
LA Rev Stat § 22:236.2 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§236.2. Plan of reorganization

RS 236.2 - Plan of reorganization A. A reorganizing mutual seeking to reorganize pursuant to the provisions of this Subpart shall submit a proposed plan of reorganization to the commissioner. The plan of reorganization shall include the following: (1) A statement analyzing the benefits and risks attendant to the proposed reorganization, including the rationale for the reorganization. (2) A statement indicating how the reorganization will protect the immediate and long-term interests, and serve the best interests of policyholders. (3) Copies of the articles of incorporation and bylaws of the reorganized company and any affiliate parent corporation, stockholding companies, and reorganized insurers. (4) Information sufficient to demonstrate that the financial condition of any reorganized insurer will not be diminished upon reorganization. (5) A description of any plans for the initial sale of stock of the reorganizing mutual or any parent corporation or affiliate stockholding company. B. The plan of reorganization shall: (1) Provide that all membership interests in the reorganizing mutual shall be extinguished as of the effective date. (2) Require the distribution of consideration, in a fair and equitable manner, to all eligible members upon extinguishment of the membership interests. (3) Specify the manner in which the aggregate value of the consideration shall be determined and the method by which the consideration shall be allocated among eligible members. (4) Provide dividend protections for the reasonable dividend expectations of policyholders of any reorganized insurer, all as set forth in R.S. 22:236.3. C. The plan of reorganization shall have been duly adopted by action of not less than two-thirds of the members of the entire board of directors of the reorganizing mutual. D. A plan of reorganization filed with the commissioner pursuant to this Section shall be accompanied by the proposed forms of notice required by R.S. 22:236.4(C) and 236.5(C). E. All information, documents, and copies thereof obtained by or disclosed to the commissioner, the Department of Insurance, or its designated representative in the course of an examination of a proposed plan of reorganization shall be treated in accordance with R.S. 22:706. Acts 2008, No. 307, §1, eff. June 17, 2008.
LA Rev Stat § 22:236.5 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§236.5. Approval by qualified voters

RS 236.5 - Approval by qualified voters A. The plan of reorganization shall be approved at a meeting convened for that purpose by a vote of not less than two-thirds of the qualified voters of the reorganizing mutual entitled to vote on matters and present or represented by special ballot or special proxy. B. The meeting of qualified voters to consider the plan of reorganization shall occur after the public hearing before the commissioner, and the closing of the administrative record after the public hearing shall not occur until such time as it includes certification by the reorganizing mutual to the commissioner of the vote on the plan of reorganization by the qualified voters of the reorganizing mutual. C. All qualified voters shall be given notice of their opportunity to vote on the plan of reorganization, which notice shall include a copy of the plan of reorganization or a summary thereof and which shall be in a form that the commissioner has determined is adequate and may be provided to qualified voters. The notice may be combined with notice of the public hearing. The notice shall be mailed, or provided by some other method or methods as may be approved by the commissioner, not less than thirty days before the date of the meeting of qualified voters to vote on the plan of reorganization. If the reorganizing mutual complies substantially and in good faith with the notice requirements of this Section, the failure of any person to actually receive any required notice will not impair the validity of any action taken under this Subpart. D. A quorum for the meeting of qualified voters to consider the plan of reorganization shall consist of the qualified voters present or represented by special ballot or special proxy. E. Voting, ballot, and proxy submission may take place electronically or telephonically consistent with the requirements of the Louisiana Uniform Electronic Transactions Act, R.S. 9:2601 et seq. Acts 2008, No. 307, §1, eff. June 17, 2008.
LA Rev Stat § 22:236.6 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§236.6. Limitations on acquisition of beneficial ownership

RS 236.6 - Limitations on acquisition of beneficial ownership A. Except as otherwise specifically provided in the plan of reorganization, prior to and for a period of five years following the effective date of the reorganization, no person or persons acting in concert, other than the reorganized company or any employee benefit plans or trusts sponsored by the reorganized company or its corporate affiliates, shall directly or indirectly offer to acquire or acquire in any manner the beneficial ownership of five percent or more of any class of a voting security of the reorganized company or any person that owns or controls a majority or all of the voting securities of the reorganized company without the prior approval by the commissioner of an application for acquisition filed by that person with the commissioner. B. The commissioner shall not approve an application for acquisition unless he finds each of the following: (1) The acquisition would not frustrate the plan of reorganization as approved by the qualified voters and the commissioner. (2) The board of directors of the reorganized company or its parent corporation, as applicable, has approved the acquisition, or extraordinary circumstances not contemplated in the plan of reorganization have arisen that would warrant their approval of the acquisition. (3) The acquisition would be in the best interest of the reorganized company and policyholders of the reorganized insurer or insurers. In determining whether an acquisition would be in the best interest of the reorganized company and policyholders of the reorganized insurer or insurers, the commissioner may consider such factors as he deems relevant, which may but are not required to include any or all of the following: (a) the possible effects on shareholders, employers, suppliers, creditors, and customers of the reorganized company and its affiliates; (b) possible effects on the economy of the communities in which the reorganized company is located, and on that of this state; and (c) company and policyholders of the reorganized insurer or insurers, including but not limited to the possibility that those interests may be best served by the continued independence of the reorganized company. C. No security that is the subject of any agreement or arrangement regarding acquisition or that is acquired or to be acquired in contravention of this Section or of an order of the commissioner may be voted at any shareholders' meeting, and any action of shareholders requiring the affirmative vote of a percentage of shares may be taken as though the securities were not issued and outstanding; however, no action taken at a meeting shall be invalidated by the voting of those securities unless the action would materially affect control of the reorganized insurer or a person that owns or controls a majority or all of the voting securities of the reorganized insurer or unless the courts of this state have so ordered. Acts 2008, No. 307, §1, eff. June 17, 2008.
LA Rev Stat § 22:236.7 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§236.7. Limitations on compensation of directors, officers, agents, and employees

RS 236.7 - Limitations on compensation of directors, officers, agents, and employees Except as set forth in the plan of reorganization approved by the qualified voters and the commissioner or in a stock-based compensation program or arrangement using options or other securities previously registered with the commissioner pursuant to R.S. 22:88 or any successor statute, no director, officer, agent, or employee of the reorganizing mutual shall receive any fee, commission, or other valuable consideration, other than his usual regular salary and compensation, that is contingent upon the plan of reorganization becoming approved or effective or is based upon aiding, promoting, or assisting in the approval or effectuation of the plan of reorganization. This Section shall not prohibit compensation programs or arrangements including programs and arrangements involving the use of the stock of the reorganized company or its parent corporation, which are to become effective simultaneously with the plan of reorganization or thereafter, provided such programs and arrangements are contained in the plan of reorganization approved by the qualified voters and the commissioner or in a program or arrangement using options or other securities previously registered with the commissioner pursuant to R.S. 22:88 or any successor statute. This Section shall not be deemed to prohibit such a program or arrangement from being adopted after the effective date of a reorganization. Acts 2008, No. 307, §1, eff. June 17, 2008.
LA Rev Stat § 22:236.8 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§236.8. Filing of certificate of compliance; effective date of reorganization

RS 236.8 - Filing of certificate of compliance; effective date of reorganization A. On or prior to the effective date of the reorganization, the reorganizing mutual shall file with the commissioner a certificate stating that: (1) All of the conditions set forth in the plan of reorganization, including a final order by the commissioner granting permission to reorganize in accordance with the plan of reorganization pursuant to R.S. 22:236.4 and approval by qualified voters pursuant to R.S. 22:236.5, have been satisfied. (2) The board of directors of the reorganizing mutual has not abandoned the plan of reorganization. B. Notwithstanding anything in R.S. 12:23, the articles of incorporation of the reorganizing mutual shall be approved and recorded in accordance with the provisions of R.S. 22:63 and 64. C. The reorganization shall be effective upon the date and hour certified by the commissioner, which shall be the later of: (1) the date and hour when the articles of incorporation were filed for record in the office of the proper recorder of mortgages; or (2) such other date and time specified in the articles of incorporation as the date and hour when the reorganization shall be effective, which shall not be later than the tenth day after the date the articles of incorporation are recorded. Acts 2008, No. 307, §1, eff. June 17, 2008; Acts 2010, No. 730, §1, eff. June 29, 2010.
LA Rev Stat § 22:236.9 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§236.9. Effect of reorganization

RS 236.9 - Effect of reorganization A. With respect to the conversion of a mutual insurer, upon the effective date, the mutual insurer shall immediately become a stock insurer, all membership interests shall be extinguished, and the reorganized insurer or its parent corporation will act in good faith to convey consideration to eligible members pursuant to the plan of reorganization. The reorganized insurer shall be a continuation of the mutual insurer, and the reorganization in no way shall annul, modify, or change any of the mutual insurer's existing suits, rights, contracts, or liabilities, except as provided in the plan of reorganization. After reorganization, the reorganized insurer shall exercise all the rights and powers and perform all the duties conferred or imposed by law upon insurers writing the classes of insurance written by it, and shall be vested in all the rights, franchises, and interests of the mutual insurer in and to every species of property without any deed or transfer, and the reorganized insurer shall succeed to all the obligations and liabilities of the mutual insurer, and retain all rights and contracts existing prior to conversion, except as provided in the plan of reorganization. B. With respect to the conversion of a mutual insurance holding company, upon the effective date, the membership interests of the members of the mutual insurance holding company shall be extinguished, and the reorganized company shall act in good faith to convey consideration to eligible members pursuant to the plan of reorganization. Each reorganized insurer within the mutual insurance holding company system will continue its corporate existence as a stock insurer within a stock insurance holding company system, and the reorganization shall in no way annul, modify, or change any of such reorganized insurer's existing suits, rights, contracts, or liabilities, except as provided in the plan of reorganization. Acts 2008, No. 307, §1, eff. June 17, 2008.
LA Rev Stat § 22:236.10 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§236.10. Abandoning or amending plan of reorganization

RS 236.10 - Abandoning or amending plan of reorganization The reorganizing mutual may, by action of not less than two-thirds of its board of directors, abandon or amend the plan of reorganization at any time before the effective date. No amendment made after the public hearing required by R.S. 22:236.4 shall change the plan of reorganization in a manner which the commissioner determines is materially disadvantageous to policyholders or members unless a further public hearing is held on the plan as amended. Acts 2008, No. 307, §1, eff. June 17, 2008.
LA Rev Stat § 22:236.11 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§236.11. Directors and officers of the reorganized company

RS 236.11 - Directors and officers of the reorganized company The directors and officers of the reorganizing mutual, unless otherwise specified in the plan of reorganization, shall serve as the directors and officers of the reorganized company until new directors and officers are duly elected pursuant to the articles of incorporation and bylaws of the reorganized company. Acts 2008, No. 307, §1, eff. June 17, 2008.
LA Rev Stat § 22:237 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§237. Corporate reorganization

RS 237 - Corporate reorganization The conversion of a mutual non-life insurer or a mutual non-life insurance holding company pursuant to R.S. 22:71 and 72 shall also comply with the provisions of this Subpart. "Mutual non-life insurer" and "mutual non-life insurance holding company" shall have the meanings as set forth in R.S. 22:237.2. Acts 2009, No. 234, §1.
LA Rev Stat § 22:237.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§237.1. Applicability of provisions

RS 237.1 - Applicability of provisions The provisions of R.S. 22:71 and 72 shall apply to a demutualization of a mutual non-life insurance holding company which resulted from the reorganization of a domestic mutual non-life insurance company reorganized pursuant to R.S. 22:231 as if it were a mutual life insurance company. Acts 2009, No. 234, §1.
LA Rev Stat § 22:237.3 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§237.3. Conversion of mutual insurers and mutual insurance holding companies authorized

RS 237.3 - Conversion of mutual insurers and mutual insurance holding companies authorized A. A mutual insurer may, pursuant to R.S. 22:71 and 72 and the provisions of this Subpart, reorganize into a stock insurance company that may be or become a subsidiary of a parent corporation that is or has been formed for the purpose of acquiring, directly or indirectly, all of the common stock of such reorganized insurer. B. A mutual insurance holding company may, pursuant to the provisions of this Subpart, reorganize into a stock insurance holding company. Acts 2009, No. 234, §1.
LA Rev Stat § 22:237.4 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§237.4. Plan of reorganization

RS 237.4 - Plan of reorganization A. A reorganizing mutual seeking to reorganize pursuant to the provisions of this Subpart shall submit a proposed plan of reorganization to the commissioner. The plan of reorganization shall include the following: (1) A statement analyzing the benefits and risks attendant to the proposed reorganization, including the rationale for the reorganization. (2) A statement indicating how the reorganization will protect the immediate and long-term interests, and serve the best interests of policyholders. (3) Copies of the articles of incorporation and bylaws of the reorganized company and any affiliate parent corporation, stockholding companies, and reorganized insurers. (4) Information sufficient to demonstrate that the financial condition of any reorganized insurer will not be diminished upon reorganization. (5) A description of any plans for the initial sale of stock of the reorganizing mutual or any parent corporation or affiliate stockholding company. B. The plan of reorganization shall: (1) Provide that all membership interests in the reorganizing mutual shall be extinguished as of the effective date. (2) Require the distribution of consideration, in a fair and equitable manner, to all eligible members upon extinguishment of the membership interests. (3) Specify the manner in which the aggregate value of the consideration shall be determined and the method by which the consideration shall be allocated among eligible members. (4) Provide dividend protections for the reasonable dividend expectations, if any, of policyholders of any reorganized insurer, all as set forth in R.S. 22:237.5. C. The plan of reorganization shall have been duly adopted by action of not less than two-thirds of the members of the entire board of directors of the reorganizing mutual. D. A plan of reorganization filed with the commissioner pursuant to this Section shall be accompanied by the proposed forms of notice required by R.S. 22:237.6(C) and 237.7(C). E. All information, documents, and copies thereof obtained by or disclosed to the commissioner, the Department of Insurance, or its designated representative in the course of an examination of a proposed plan of reorganization shall be treated in accordance with R.S. 22:706. Acts 2009, No. 234, §1.
LA Rev Stat § 22:237.7 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§237.7. Approval by qualified voters

RS 237.7 - Approval by qualified voters A. The plan of reorganization shall be approved at a meeting convened for that purpose by a vote of not less than two-thirds of the qualified voters of the reorganizing mutual entitled to vote on matters and present or represented by special ballot or special proxy. B. The meeting of qualified voters to consider the plan of reorganization shall occur after the public hearing before the commissioner, and the closing of the administrative record after the public hearing shall not occur until such time as it includes certification by the reorganizing mutual to the commissioner of the vote on the plan of reorganization by the qualified voters of the reorganizing mutual. C. All qualified voters shall be given notice of their opportunity to vote on the plan of reorganization, which notice shall include a copy of the plan of reorganization or a summary thereof and which shall be in a form that the commissioner has determined is adequate and may be provided to qualified voters. The notice may be combined with notice of the public hearing. The notice shall be mailed, or provided by some other method or methods as may be approved by the commissioner, not less than thirty days before the date of the meeting of qualified voters to vote on the plan of reorganization. If the reorganizing mutual complies substantially and in good faith with the notice requirements of this Section, the failure of any person to actually receive any required notice will not impair the validity of any action taken under this Subpart. D. A quorum for the meeting of qualified voters to consider the plan of reorganization shall consist of the qualified voters present or represented by special ballot or special proxy. E. Voting, ballot, and proxy submission may take place electronically or telephonically consistent with the requirements of the Louisiana Uniform Electronic Transactions Act, R.S. 9:2601 et seq. Acts 2009, No. 234, §1.