Section 13: Merger or consolidation of funds
Section 13. A fund desiring to consolidate or merge with any other fund shall comply with the procedures set forth in section seven of chapter one hundred and seventy-six, inserted by section one of chapter five hundred and forty of the acts of nineteen hundred and fifty-eight. Such merger or consolidation shall be considered to be approved by the commissioner unless, after a hearing in accordance with chapter thirty A, the commissioner disapproves said merger or consolidation in writing within sixty days after the filing of all materials.
Any such merger or consolidation shall have the effects on the rights and property of the funds which are set forth as to fraternal benefit societies in said section seven of said chapter one hundred and seventy-six, as so inserted.