58-5-138.1. Compensation of officer, insurance producer, or employee of converting mutual insurer prohibited.
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/sd/title-58/chapter-58-5/58-5-138-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No director, officer, insurance producer, or employee of any mutual insurer party to a reorganization or conversion to a corporation with capital stock may receive any fee, commission, compensation, or other valuable consideration for that participation except as set forth in the reorganization or conversion plan.