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How is the process of conversion initiated?

April 26, 2017conversion initiated process

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How is the process of conversion initiated?

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Conversion is initiated by a minimum two-thirds vote of the Board of Directors of a health service corporation and the filing of a plan of conversion with the Commissioner of the Department of Banking and Insurance (DOBI) and a petition for review of a foundation plan with the New Jersey Attorney General. Horizon BCBSNJ filed an application for conversion and a foundation plan on August 15, 2008.