(1) A dividing insurer may amend the dividing insurer's plan of division in accordance with any procedures set forth in the plan of division or, if procedures are not set forth in the plan of division, in a manner determined by the board of directors of the dividing insurer. A shareholder that is entitled to vote on or consent to approval of the plan of division is entitled to vote on or consent to an amendment of the plan of division that will affect: (a) The amount or kind of shares, securities, obligations, rights to acquire shares or securities, cash, property, or any combination thereof to be received by any of the shareholders of the dividing insurer under the plan of division; (b) The articles of incorporation or bylaws of any resulting insurer that become effective when the division becomes effective, except for changes that do not require approval of the shareholders of the resulting insurer under its articles of incorporation or bylaws; or (c) Any other terms or conditions of the plan of division that effect a change that may adversely affect the shareholders in any material respect.
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