58-5A-46. "Acquisition" and "Involved insurer" defined--Limited application.
75 words·~1 min read·
/sd/title-58/chapter-58-5/58-5a-46A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The following definitions shall only apply to §§ 58-5A-47 to 58-5A-53 , inclusive:
(1)"Acquisition," any agreement, arrangement, or activity the consummation of which results in a person acquiring directly or indirectly the control of another person, and includes the acquisition of voting securities, assets, bulk reinsurance, and mergers; and
(2)"Involved insurer," an insurer which either acquires or is acquired, is affiliated with an acquirer or acquired or is the result of a merger.