1390 Saucon Mutual Insurance Company; plan of conversion; public informational hearing

Saucon Mutual Insurance Company; Plan of Conversion; Public Informational Hearing

[45 Pa.B. 4128]
[Saturday, July 25, 2015]

 The Insurance Department (Department) will hold a public informational hearing regarding the proposed Plan of Conversion (Plan) submitted by Saucon Mutual Insurance Company (Saucon), a Pennsylvania domiciled mutual property insurance company. The proposed Plan provides for conversion of Saucon from a Pennsylvania mutual property insurance company to a Pennsylvania stock property insurance company. In conjunction with the mutual-to-stock conversion, Saucon Holding Company, a Pennsylvania domiciled stock corporation, submitted a request for approval to acquire control of all of the capital stock of Saucon upon consummation of the previously-referenced conversion. Included within the request was the identity of three individuals anticipated to hold a controlling interest in Saucon Holding Company upon completion of the conversion and acquisition. The Plan was submitted for approval under the Insurance Company Mutual-to-Stock Conversion Act (40 P. S. §§ 911-A—929-A) and Article XIV of The Insurance Company Law of 1921 (40 P. S. §§ 991.1401—991.1413). Policyholders and interested persons are invited to attend and participate in the hearing. Individuals may attend the hearing without any obligation to speak at the hearing.

 1. Date and Time: September 1, 2015, at 9 a.m.

 2. Location: Capitol Associates Building
901 North 7th Street
Room 200
Harrisburg, PA 17102

 3. Nature of Hearing: The public informational hearing will provide an opportunity for policyholders and interested persons to present comments relevant to the proposed Plan. The proceeding will be recorded by a court reporter.

 4. Legal Authority: The public informational hearing will be held under the provisions of the Insurance Company Mutual-to-Stock Conversion Act.

 5. ADA Notice: Individuals who require the assistance of auxiliary aids or services to participate in or attend this public informational hearing are asked to call the Director of the Bureau of Administration at [phone]. Individuals who are hearing impaired are asked to call the Department's TTY/TDD telephone number [phone].

 6. Written Comments: Persons who are unable to attend the public informational hearing or would prefer to submit written comments instead of speaking at the hearing concerning the previously-referenced transaction may do so by mailing or delivering a copy of the comments to Cressinda E. Bybee, Senior Insurance Company Licensing Specialist, Company Licensing Division, Insurance Department, 1345 Strawberry Square, Harrisburg, PA 17120, fax [phone], [e-mail]. Be advised that all comments received will be part of the public record regarding this filing and will be posted on the Department's web site as well as shared with the applicant.

TERESA D. MILLER, 
Insurance Commissioner

[Pa.B. Doc. No. 15-1390. Filed for public inspection July 24, 2015, 9:00 a.m.]