40-768.Consolidation or merger of domestic society; documents andevidence to be filed with commissioner; approval of commissioner; effectivedate; societies incorporated under laws of foreign state; transfer ofrights and property to society resulting or remaining after transaction;affidavit prima facie evidence of furnishing notice or documents.(a) A domestic society may consolidate or merge with any othersociety by complying with the provisions of this section. It shall filewith the commissioner of insurance:
(1) A certified copy of the written contract containing in full theterms and conditions of the consolidation or merger;
(2) a sworn statement by the president and secretary or correspondingofficers of each society showing the financial condition thereof on a datefixed by the commissioner but not earlier than December 31, next precedingthe date of the contract;
(3) a certificate of such officers, duly verified by their respectiveoaths, that the consolidation or merger has been approved by a 2/3 vote ofthe supreme governing body of each society, such vote being conducted at aregular or special meeting of each such body, or, if the society's laws sopermit, by mail; and
(4) evidence that at least 60 days prior to the action of the supremegoverning body of each society, the text of the contract has been furnishedto all members of each society either by mail or by publication in full inthe official publication of each society.
(b) If the commissioner finds that the contract is in conformity withthe provisions of this section, that the financial statements are correctand that the consolidation or merger is just and equitable to the membersof each society, the commissioner shall approve the contract and issue acertificate to such effect. Upon such approval, the contract shall be infull force and effect unless any society which is a party to the contractis incorporated under the laws of any other state or territory. In suchevent the consolidation or merger shall not become effective unless anduntil it has been approved as provided by the laws of such state orterritory and a certificate of such approval filed with the commissioner,or, if the laws of such state or territory contain no such provision, thenthe consolidation or merger shall not become effective unless and until ithas been approved by the commissioner of insurance of such state orterritory and a certificate of such approval filed with the commissioner ofinsurance of this state.
(c) Upon the consolidation or merger becoming effective as hereinprovided, all the rights, franchises and interests of the consolidated ormerged societies in and to every species of property, real, personal ormixed, and things in action belonging to such societies shall be vested in thesociety resulting from or remaining after the consolidation or mergerwithout any other instrument, except that conveyance or real property maybe evidenced by proper deeds. The title to any real estate or interesttherein, vested under the laws of this state in any of the societiesconsolidated or merged, shall not revert or be in any way impaired byreason of the consolidation or merger but shall vest absolutely in thesociety resulting from or remaining after such consolidation or merger.
(d) The affidavit of any officer of the society or of anyone authorizedby it to mail any notice or document, stating that such notice or documenthas been duly addressed and mailed, shall be prima facie evidence that suchnotice or document has been furnished the addressees.
40-768.Consolidation or merger of domestic society; documents andevidence to be filed with commissioner; approval of commissioner; effectivedate; societies incorporated under laws of foreign state; transfer ofrights and property to society resulting or remaining after transaction;affidavit prima facie evidence of furnishing notice or documents.(a) A domestic society may consolidate or merge with any othersociety by complying with the provisions of this section. It shall filewith the commissioner of insurance:
(1) A certified copy of the written contract containing in full theterms and conditions of the consolidation or merger;
(2) a sworn statement by the president and secretary or correspondingofficers of each society showing the financial condition thereof on a datefixed by the commissioner but not earlier than December 31, next precedingthe date of the contract;
(3) a certificate of such officers, duly verified by their respectiveoaths, that the consolidation or merger has been approved by a 2/3 vote ofthe supreme governing body of each society, such vote being conducted at aregular or special meeting of each such body, or, if the society's laws sopermit, by mail; and
(4) evidence that at least 60 days prior to the action of the supremegoverning body of each society, the text of the contract has been furnishedto all members of each society either by mail or by publication in full inthe official publication of each society.
(b) If the commissioner finds that the contract is in conformity withthe provisions of this section, that the financial statements are correctand that the consolidation or merger is just and equitable to the membersof each society, the commissioner shall approve the contract and issue acertificate to such effect. Upon such approval, the contract shall be infull force and effect unless any society which is a party to the contractis incorporated under the laws of any other state or territory. In suchevent the consolidation or merger shall not become effective unless anduntil it has been approved as provided by the laws of such state orterritory and a certificate of such approval filed with the commissioner,or, if the laws of such state or territory contain no such provision, thenthe consolidation or merger shall not become effective unless and until ithas been approved by the commissioner of insurance of such state orterritory and a certificate of such approval filed with the commissioner ofinsurance of this state.
(c) Upon the consolidation or merger becoming effective as hereinprovided, all the rights, franchises and interests of the consolidated ormerged societies in and to every species of property, real, personal ormixed, and things in action belonging to such societies shall be vested in thesociety resulting from or remaining after the consolidation or mergerwithout any other instrument, except that conveyance or real property maybe evidenced by proper deeds. The title to any real estate or interesttherein, vested under the laws of this state in any of the societiesconsolidated or merged, shall not revert or be in any way impaired byreason of the consolidation or merger but shall vest absolutely in thesociety resulting from or remaining after such consolidation or merger.
(d) The affidavit of any officer of the society or of anyone authorizedby it to mail any notice or document, stating that such notice or documenthas been duly addressed and mailed, shall be prima facie evidence that suchnotice or document has been furnished the addressees.
40-768.Consolidation or merger of domestic society; documents andevidence to be filed with commissioner; approval of commissioner; effectivedate; societies incorporated under laws of foreign state; transfer ofrights and property to society resulting or remaining after transaction;affidavit prima facie evidence of furnishing notice or documents.(a) A domestic society may consolidate or merge with any othersociety by complying with the provisions of this section. It shall filewith the commissioner of insurance:
(1) A certified copy of the written contract containing in full theterms and conditions of the consolidation or merger;
(2) a sworn statement by the president and secretary or correspondingofficers of each society showing the financial condition thereof on a datefixed by the commissioner but not earlier than December 31, next precedingthe date of the contract;
(3) a certificate of such officers, duly verified by their respectiveoaths, that the consolidation or merger has been approved by a 2/3 vote ofthe supreme governing body of each society, such vote being conducted at aregular or special meeting of each such body, or, if the society's laws sopermit, by mail; and
(4) evidence that at least 60 days prior to the action of the supremegoverning body of each society, the text of the contract has been furnishedto all members of each society either by mail or by publication in full inthe official publication of each society.
(b) If the commissioner finds that the contract is in conformity withthe provisions of this section, that the financial statements are correctand that the consolidation or merger is just and equitable to the membersof each society, the commissioner shall approve the contract and issue acertificate to such effect. Upon such approval, the contract shall be infull force and effect unless any society which is a party to the contractis incorporated under the laws of any other state or territory. In suchevent the consolidation or merger shall not become effective unless anduntil it has been approved as provided by the laws of such state orterritory and a certificate of such approval filed with the commissioner,or, if the laws of such state or territory contain no such provision, thenthe consolidation or merger shall not become effective unless and until ithas been approved by the commissioner of insurance of such state orterritory and a certificate of such approval filed with the commissioner ofinsurance of this state.
(c) Upon the consolidation or merger becoming effective as hereinprovided, all the rights, franchises and interests of the consolidated ormerged societies in and to every species of property, real, personal ormixed, and things in action belonging to such societies shall be vested in thesociety resulting from or remaining after the consolidation or mergerwithout any other instrument, except that conveyance or real property maybe evidenced by proper deeds. The title to any real estate or interesttherein, vested under the laws of this state in any of the societiesconsolidated or merged, shall not revert or be in any way impaired byreason of the consolidation or merger but shall vest absolutely in thesociety resulting from or remaining after such consolidation or merger.
(d) The affidavit of any officer of the society or of anyone authorizedby it to mail any notice or document, stating that such notice or documenthas been duly addressed and mailed, shall be prima facie evidence that suchnotice or document has been furnished the addressees.
