What is conversion?
New Jersey law (see N.J.S.A. 17:48E-49 et. seq., enacted in 2001) allows companies organized as a non-profit health service corporations to convert to for-profit domestic stock insurers. Once converted to a domestic stock insurer and pursuant to a public offering, the company can sell shares of stock in the public markets. The conversion law requires the creation of an independent foundation that is to receive 100% of the fair market value of the health service corporation upon conversion.
Related Questions
- Rateable Value Q: A premises has 50% of their rateable value waived as a charitable organisation. How should the applicant calculate the rateable value of the premises for conversion purposes?
- How will the Managed Income Fund change after the conversion?
- How does the currency conversion work for the Casino?
