375.206. Certificate of amendment, issuance, filing--director, duties--secretary of state, duties.
Certificate of amendment, issuance, filing--director,duties--secretary of state, duties.
375.206. Upon receipt by the director of the department of insurance,financial institutions and professional registration of any certificate ofamendment in triplicate, he shall file it if he finds that the certificate ofamendment conforms to law and that the proceedings were regular, and that thesame will not be prejudicial to the interest of the policyholders and, if theamendment increases or reduces the capital stock, that the condition and theassets of the company justify the increase or reduction. Keeping one of thecopies as a permanent record, he shall issue his certificate of amendment andshall certify the same to the secretary of state, who shall affix hiscertificate of amendment to a copy thereof retaining the same as a permanentrecord and shall forward to the company his certificate of amendment. Thesecretary of state shall also forward to the director of the department ofinsurance, financial institutions and professional registration a certifiedcopy of his certificate of amendment.
(L. 1967 p. 516)