Insurance Law 7101 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search up ARTICLE 71 Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers next SECTION 7102 Merger, consolidation and acquisition of assets; when permitted Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 7101 Definitions Insurance (ISC) CHAPTER 28, ARTICLE 71 § 7101. Definitions. In this article: (a) "Merger" means the merger of two or more companies in a single company which is one of the constituent companies. (b) "Consolidation" means the consolidation of two or more companies into a single new company. (c) "Constituent company" means an existing company that is participating in the merger or consolidation with one or more other companies. (d) "Surviving company" means the constituent company into which one or more other constituent companies are merged. (e) "Consolidated company" means the new company into which two or more constituent companies are consolidated. (f) "Company" means an insurance company. (g) "Acquisition of assets" and "acquire the assets of", means the acquisition through the purchase or otherwise of all or substantially all of the assets of a domestic company or of any company by a domestic company.