1. The commission may require an affected company to submit the plan ofconsolidation, merger, or reinsurance to a vote by itsmembers. The plan shall be submitted at a meeting called for that purpose, upon not less than thirty days’ notice. Member approval of the plan requires the affirmative vote of two-thirds of all members voting in person, by ballot, or by proxy. 2. Approval by the members of a mutual company of a plan of merger or reinsurance is not required ifall of the following conditions are satisfied: a. The company will survive the merger or isthe reinsurer. b. At the time of the merger or reinsurance, the number of members of the surviving company isgreater than the number of members of the affected company. c. At the timeof the merger or reinsurance, the surplus of the surviving company isgreater than the surplus of the affected company. [S13, §1821-q; C24, 27, 31, 35, 39, §9113; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §521.10]
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