Insurance Law 7113 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 7112 Vesting of property in surviving or consolidated company; assumption of liabilities up ARTICLE 71 Merger, Consolidation, Redomestication, Acquisition of Assets and Acquisition of Certain Shares of Insurers next SECTION 7114 Pending actions Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 7113 Transfer of deposits to surviving or consolidated company Insurance (ISC) CHAPTER 28, ARTICLE 71 § 7113. Transfer of deposits to surviving or consolidated company. If any constituent company in a merger or consolidation under the provisions of this article shall have on deposit with the superintendent securities held for the benefit and protection of all of its policyholders or policyholders and creditors within the United States, the superintendent is authorized, upon the completion of such merger or consolidation, to transfer residuary interest in such deposit of such constituent company to the surviving or consolidated company, and to release such deposit or any part thereof if no longer required of such surviving or consolidated company under the provisions of this chapter.