Any insurance company, other than life,may, upon the vote of a majority of its shares of stock represented at a meeting legally called for that purpose, reduce itscapital stock and the number ofshares thereof or thepar value oftheshares thereof, provided that the totalamount of capital shall not be reduced to an amount less than the minimum required by law, but no part of its assets and property shall be distributed to itsstockholders without the consent of the insurance commissioner.
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