United States:
SEC Grants Registration Exemption To Mutual Insurance Company
10 July 2017
Cadwalader, Wickersham & Taft LLP
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The SEC Division of Corporation Finance ("Division")
granted an exemption from registration of membership
interests to a Georgia-based mutual insurance company reorganizing
to become a stock company.
In response to a request for relief by the MAG Mutual Insurance
Company, the Division agreed to rely on the Company's opinion
of counsel that relevant membership interests in MAG Mutual Holding
Company are not securities, as classified by the
Securities Act or the
Exchange Act.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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