83-31-167 - Dissolution, liquidation, commissioner jurisdiction and investments.
§ 83-31-167. Dissolution, liquidation, commissioner jurisdiction and investments.
(1) A mutual insurance holding company and, if applicable, an intermediate holding company shall not be dissolved or liquidated without the approval of the commissioner.
(2) The commissioner shall retain jurisdiction over a mutual insurance holding company incorporated in this state and, if applicable, an intermediate holding company, to assure that policyholder interests are protected, including, but not limited to, regulation of the solvency of such companies.
(3) Subject to the limitations of Section 83-6-2, a mutual insurance holding company formed under Sections 83-31-47 or 83-31-101 through 83-31-181 may (a) invest in the stock or debt securities of one or more intermediate holding companies; (b) invest in the stock or debt securities of one or more domestic or foreign insurance companies; (c) exercise any power or engage in any transaction or activity permitted by Section 83-31-157 or other provision applicable to mutual insurance holding companies; and (d) invest in any corporation, partnership, limited liability company, business trust or other entity permitted for a mutual insurance company under the laws of this state.
Sources: Laws, 1998, ch. 576, § 33, eff from and after July 1, 1998.