S.B. 844                                                  VETOES

1.       a newspaper printed in the county where each mutual insurer
has its principal office; and

2.       a newspaper printed in one of the two largest cities in each
state where the successor mutual insurer will be licensed to do business.

(4)     The agreement shall be;

(i) executed in duplicate original under corporate seal by officers
authorized to do so on behalf of each of the mutual insurers; and

(ii) submitted, with evidence of its approval, to the Commissioner.

(5)     If it appears to the Commissioner that the requirements of this section
have been complied with, the Commissioner shall certify approval of the agreement by
endorsing it.

(6)     A duplicate original of the agreement shall be filed with the
Commissioner and a duplicate original of the agreement shall be delivered to the
successor mutual insurer.

7-201.

(A) In addition to any other investment allowed elsewhere in this article, a
domestic insurer, either alone or with another person, may invest in or otherwise acquire
a subsidiary that engages in or is registered to engage in one or more of the following
insurance businesses or business activities that are ancillary to an insurance business:

(1)     conducting an insurance business that is authorized by the jurisdiction
where the subsidiary is incorporated;

(2)     acting as an insurance agency for its parent, its parent's insurer
subsidiaries, or its parent's intermediate insurer subsidiaries;

(3)     investing, reinvesting, or trading in securities for itself, its affiliate, its
parent, or another subsidiary of its parent;

(4)     managing an investment company that is subject to the Investment
Company Act of 1940, including managing related sales and services of the investment
company;

(5)     acting as a broker-dealer that is subject to the Securities Exchange Act
of 1934;

(6)     providing investment advice to governments, governmental units,
corporations, or other organizations or groups;

(7)     performing other services related to the operations of an insurance
business, including actuarial, loss prevention, safety engineering, data processing,
accounting, claims, appraisal, and collection services;

(8)     owning and managing assets that its parent may own and manage;

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