Section 7106. Merger or consolidation between domestic and foreign companies; certificate of approval

(a)  In  case  of  a  merger  or  consolidation between a domestic and a foreign company, the agreement of
  merger or consolidation shall be executed by the proper officers of said
  foreign  company when they are duly authorized thereto by such action on
  the part of the directors,  shareholders  or  members  of  said  foreign
  company  as  may  be required by the laws of the state where the same is
  incorporated; and if required by such laws, said agreement of merger  or
  consolidation   shall  be  submitted  to  the  superintendent  or  other
  insurance supervisory official  of  the  state  in  which  such  foreign
  company  is  incorporated and no such merger or consolidation shall take
  effect until it shall have been approved by the superintendent  of  this
  state,  and, if required as aforesaid, by such insurance official of the
  state where said foreign company is  incorporated,  as  evidenced  by  a
  certificate  of  his approval, filed in the office of the superintendent
  of this state.
    (b) No such merger or consolidation between  a  domestic  and  foreign
  company   shall   take   effect,  unless  and  until  the  surviving  or
  consolidated company, if such company is a foreign company,  shall  file
  with  the superintendent of this state a power of attorney in compliance
  with section one thousand two hundred twelve of this chapter.