(1) Section 218 (1) and section 263 (3) sentences 2 and 3 likewise are to be applied accordingly to the resolution on change of legal form. The resolution on change of legal form may determine that members who have been members of the mutual insurance company changing its legal form for less than three years prior to the change of legal form will be prohibited from obtaining an ownership interest in the stock corporation.
(2) The capital stock of the stock corporation is to be specified in the amount of the capital stock of comparable insurers having the legal form of the stock corporation. Where the supervisory authority would grant permission to an insurance stock corporation that is to be newly formed only if a higher capital stock were to be set, then the capital stock is to be set in that amount inasmuch as this is feasible for the mutual insurance company changing its legal form, based on its assets and financial circumstances. Where no such specification is possible in light of the mutual insurance company’s assets and financial circumstances, the nominal amount of the capital stock is to be specified such that, wherever possible, full shares of stock are allotted to each member obtaining the legal status of a stockholder.
(3) The ownership interest of the members in the capital stock of the stock corporation may only be stipulated based on one or several of the following measures if it is intended to not allot ownership interests having equal value to all members:
1. the amount insured,
2. the amount of the contributions,
3. the amount of the premium reserve made in the life insurance policy,
4. the measure determined in the by-laws for the distribution of the surplus,
5. a measure determined in the by-laws for the distribution of the assets,
6. the duration of the membership.