Eligibility for a division

The division involving mutual insurance companies may be implemented only by full division or partial division and only in such manner that the parts of an association being acquired devolve to other mutual insurance companies already in existence or to new mutual insurance companies or to insurance stock corporations. Furthermore, a mutual insurance company may transfer a part of its assets, by way of a division by separation, to a limited liability company already in existence or to a new limited liability company, or to an existing or new stock corporation, provided that this does not entail any transfer of insurance contracts.