Sec. 1. (a) Subject to subsection (c), a reorganized insurer may issue shares of any class or type of stock permitted under this title.

     (b) Subject to subsection (c), an intermediate stock holding company may issue any class or type of stock permitted by the law under which the intermediate stock holding company is organized.

     (c) A reorganized insurer and an intermediate stock holding company may issue shares of stock to a person or entity other than:

(1) the mutual insurance holding company of which it is a subsidiary; or

(2) an intermediate stock holding company that is a subsidiary of the mutual insurance holding company referred to in subdivision (1);

only in compliance with this chapter.

As added by P.L.226-2023, SEC.30.