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Demutualization |
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Demutualization The process of changing corporate structure from a mutual fund company to some other form, such as a limited liability or corporation. Notes: This means mutual/life insurance companies convert from policyholder companies to stock companies.See also: Corporation, Mutual Fund |
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? Mentioned in | ? References in periodicals archive | |
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Columbus, Ohio, has completed its sponsored demutualization of Provident Mutual Life Insurance Co. In Letter Ruling (TAM) 200126008, the IRS concluded that a mutual insurance company may deduct a demutualization payment made to its state's treasury in the year in which it made the payment, based in large part on the origin-of-the-claim doctrine. Although the amount and type of consideration -- which could take the form of stock, cash or both -- that will be received by the Trust is unknown at this time, the AICPA Life Insurance/Disability Plans Committee and its Task Force for Demutualization are continuing to monitor the demutualization process and are currently in the process of reviewing Prudential's Plan of Reorganization. |
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Demutualization
