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A mutual insurance holding company established pursuant to La. Rev. Stat. 22:231 is deemed to be an insurer subject to La. Rev. Stat. 22:73 and 96, Subpart H of this Part, La. Rev. Stat. 22:731 et seq., and Chapter 9 of this Title, La. Rev. Stat. 22:2001 et seq., and shall automatically be a party to any proceeding under that Part involving an insurance company which, as a result of a reorganization pursuant to La. Rev. Stat. 22:231, is a subsidiary of the mutual insurance holding company or an intermediate holding company.  In any proceeding under La. Rev. Stat. 22:73 and 96, Subpart H of this Part, and Chapter 9 of this Title involving an insurance company reorganized under La. Rev. Stat. 22:231, the assets of the mutual insurance holding company are deemed to be assets of the estate of the reorganized insurance company for purposes of satisfying the claims of the reorganized insurance company’s policyholders.  A mutual insurance holding company shall not dissolve or liquidate without the approval of the commissioner or as ordered by the district court pursuant to La. Rev. Stat. 22:73 and 96, Subpart H of this Part,  and Chapter 9 of this Title.

Acts 1997, No. 1482, §1; Redesignated from La. Rev. Stat. 22:1004.5 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 503, §1; Redesignated from La. Rev. Stat. 22:699 by Acts 2012, No. 294, §3.