Section 23-63-525 - Acquisitions involving insurers not otherwise covered - Definitions

The following definitions shall apply for the purposes of §§ 23-63-525 - 23-63-530 only:(1) 'Acquisition' means any agreement, arrangement, or activity the consummation of which results in a person acquiring directly or indirectly the control of another person, and includes, but is not limited to, the acquisition of voting securities, the acquisition of assets, bulk reinsurance, and mergers; and(2) An 'involved insurer' includes an insurer which either acquires or is acquired, is affiliated with an acquirer or acquired, or is the result of a merger.Acts 1991, No. 723, § 29.