[eu]cite

Home› Commercial & Company Law› UmwG (EN)

Part 2 · Special provisions  ›  Division 8 · Merger of mutual insurance companies › Section 116

Resolutions adopted by the most senior representative committees

(1) The by-laws of the new legal entity and the appointment of the members of its supervisory board require the mutual insurance companies being acquired to consent to them by merger resolution. Sections 76 and 112 (3) are to be applied accordingly.

(2) The publication giving notice of the agenda of a mutual insurance company is to include a notice outlining the substance of the merger agreement. In said notice, the management board and the supervisory board are to submit their proposals for resolutions to be adopted; where members of the supervisory board and auditors are to be elected, the supervisory board alone will submit such proposals. Where the supervisory board is to include members delegated by the employees, any resolutions adopted by the supervisory board concerning nominations for the election of members of the supervisory board require solely the majority of the votes cast by the members of the supervisory board delegated by the members of the mutual insurance company.

←→ also move between sections