Section 10-3-602 - Exchange of securities

(1) Any stock insurance company organized under the laws of this state, referred to in this part 6 as a 'domestic company', may adopt a plan of exchange providing for the exchange by its shareholders of their stock in the domestic company for: (a) Shares of stock issued by an acquiring corporation; or(b) Other securities issued by an acquiring corporation; or(c) Cash; or(d) Other consideration; or(e) Any combination of such stock, other securities, cash, or other consideration.L. 69: p. 529, § 2. C.R.S. 1963: § 72-27-2.