The management boards of the mutual insurance companies being acquired are to appoint the initial supervisory board of the new legal entity and the auditor for the first fiscal year, be this a complete or incomplete fiscal year. The appointment must be recorded by a notary. The supervisory board appoints the initial management board.
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Part 2 · Special provisions › Division 8 · Merger of mutual insurance companies › Section 115
Appointment of the representative bodies of the mutual insurance companies
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