DE HB382

Expands the definition of "capital stock" to include hybrid securities and other equity securities issued during mutual-to-stock conversions.

Allows captive insurance companies incorporated as nonstock corporations to convert from mutual to stock form under the Act.

Broadens the definition of "mutual holding company" to include nonstock corporations resulting from reorganizations of mutual insurers under other jurisdictions' laws that subsequently redomesticate to Delaware.

Permits mutual holding companies to convert to stock form and clarifies that alternative conversion plans under §4978 are subject to the same approval requirements as standard conversions.

Allows standby investors to purchase unsubscribed capital stock shares at prices no less favorable than those offered to eligible members, subject to Commissioner approval for purchases of 10% or more of stock.