44-252.

Plan of exchange; effective; abandon; when.

Upon such approval of the plan by the shareholders, it shall be executed by the company acquired by its president or vice president and by its secretary or an assistant secretary and shall become effective without other action upon the filing thereof with the Director of Insurance along with a certification as to the number of shares outstanding entitled to vote and the number of shares voted for and against such plan respectively. At any time prior to the filing of the same with the director with such certification, the plan of exchange may be abandoned pursuant to the provisions therefor, if any, set forth in the plan.