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Adoption of the plan of conversion by the board of directors.

D.C. Code § 31-902
in effect
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31-902. Adoption of the plan of conversion by the board of directors. (a) A mutual company seeking to convert to a stock company shall, by the affirmative vote of a majority of its board of directors, adopt a plan of conversion consistent with the requirements of § 31-906. (b) At any time before approval of a plan by the Commissioner, the mutual company, by the affirmative vote of a majority of its board of directors, may amend or withdraw the plan. (May 24, 1996, D.C. Law 11-126, § 3, 43 DCR 1551; Mar. 24, 1998, D.C. Law 12-81, § 43(b), 45 DCR 745; Apr. 3, 2001, D.C. Law 13-214, § 2(a), 47 DCR 9580.)
Source: Council of the District of Columbia (code.dccouncil.gov)URL: https://code.dccouncil.gov/us/dc/council/code/sections/31-902Fetched: 10/21/2026

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