Reorganization plan; adoption; amendment; withdrawal.

Sec. 6005. A mutual company seeking to reorganize to a mutual holding company structure shall adopt, by the affirmative vote of not less than 2/3 of its board of directors, a plan of reorganization under this chapter. At any time before approval of a plan of reorganization by eligible members, the mutual company, by the affirmative vote of not less than 2/3 of its board of directors, may amend or withdraw the plan. History: Add. 2000, Act 8, Imd. Eff. Feb. 25, 2000