Section 11420 Of Article 1. Authorization And Effect From California Insurance Code >> Division 2. >> Part 2. >> Chapter 11. >> Article 1.

. Any domestic insurer providing life insurance upon the assessment plan may transform itself into an incorporated life insurer issuing policies on a reserve basis with such name as its directors or trustees determine. If incorporated, such insurer may make the transformation by amendment of its articles and by-laws, either by a majority vote of its directors or trustees or in any other lawful manner. If unincorporated it may make the transformation by incorporating.