40 Pa. C.S. § 3517

Current through P.A. Acts 2023-66
Section 3517 - Prohibition on acquisitions of control

Except as otherwise specifically provided in section 3503 (relating to contents of plan of conversion), from the date a plan of conversion is adopted until the effective date of theplan of conversion, a person may not directly or indirectly offer to acquire, make an announcement to acquire or acquire in any manner, including making a filing with the department for acquisition under a statute or regulation of this Commonwealth, the beneficial ownership of 10% or more of a class of a voting security of the attorney or the stock company that will be the successor of the reciprocal insurer or of a person that controls the voting securities of the attorney or the stock company that will be the successor of the reciprocal insurer.

40 Pa.C.S. § 3517

Added by P.L. TBD 2015 No. 2, § 1, eff. 7/12/2015.