77. The Authority shall, if the company has complied with this Act, transmit a notice setting forth the facts notified to it in accordance with section 76 to the enterprise registrar who shall deposit it in the register.
From the date of deposit of the notice, the capital stock of the company is cancelled and the company is converted into a mutual life insurance company governed by Division III of this chapter.
1974, c. 70, s. 77; 1982, c. 52, s. 80; 1993, c. 48, s. 118; 2002, c. 45, s. 207; 2004, c. 37, s. 90.