The commissioner shall approve a plan submitted under this article unless the commissioner makes at least one
- (1) of the following findings with respect to the plan:
- (1) Disapproval of the plan is necessary to prevent practices that will cause material financial impairment to the applicant or its subsidiaries.
- (2) The financial position or management resources and capabilities of the applicant or its subsidiaries or affiliates warrant disapproval.
- (3) The plan does not comply with this article.
- (4) The proposed plan would not be fair and equitable to the members.
As added by P.L.226-2023, SEC.30.