Current through Public Act 190 of the 2024 Legislative Session
Section 500.6005 - Reorganization plan; adoption; amendment; withdrawal(1) A mutual company seeking to reorganize to a mutual holding company structure shall adopt, by the affirmative vote of not less than 2/3 of its board of directors, a plan of reorganization under this chapter.(2) At any time before approval of a plan of reorganization by eligible members, the mutual company, by the affirmative vote of not less than 2/3 of its board of directors, may amend or withdraw the plan.Add. 2000, Act 8, Imd. Eff. 2/25/2000 .