40 Pa. Stat. § 929-A

Current through Pa Acts 2024-35, 2024-56
Section 929-A - Prohibition on acquisitions of control

Except as otherwise specifically provided in section 804-A, from the date a plan of conversion is adopted by the board of directors of a mutual insurance company until the effective date of the plan of conversion, no person shall directly or indirectly offer to acquire, make any announcement to acquire or acquire in any manner, including making a filing with the department for such acquisition under a statute or regulation of this Commonwealth, the beneficial ownership of ten per centum (10%) or more of a class of a voting security of the converted stock company or of a person which controls the voting securities of the converted stock company.

40 P.S. § 929-A

1921, May 17, P.L. 682, No. 284, § 819-A, added 1998, Dec. 21, P.L. 1108, No. 150, § 9, imd. effective.