(1) This sub-chapter applies to all domestic stock insurers having 100 or more stockholders.
(2) This sub-chapter does not apply to an insurer if 95% or more of its stock is owned or controlled by a parent or an affiliated insurer and the remaining shares are held by less than 500 stockholders.
(3) This sub-chapter does not apply to a domestic stock insurer which files with the United States Securities and Exchange Commission forms of proxies, consents, and authorizations complying with the requirements of the Securities and Exchange Act of 1934, the Securities and Exchange Act Amendments of 1964, and Regulation X-14 of the Securities and Exchange Commission adopted under the Securities and Exchange Act.
History: Sec. 33-3-447 MCA; IMP, Sec. 33-3-447 MCA; EMERG, NEW, Eff. 5/5/75.