ARTICLE 1. General Provisions [4010. - 4019.]
Article 1 added by Stats. 1963, Ch. 1772.
§§ 4010–4019 · 12 sections
- § 4010 A “mutual” insurer is an insurance corporation without capital stock owned by its policyholders collectively, who have the right to vote in the election of its…
- § 4011 The provisions of Section 36 shall apply to domestic mutual insurers as well as foreign mutual insurers.
- § 4012 Domestic mutual insurers, incorporating or qualifying to transact any or all of the classes of insurance designated in Sections 100 through 123 and 700. 01,…
- § 4013 (a) Each policyholder of a domestic mutual insurer, other than the holder of a reinsurance contract, is a member of the insurer during the policy period, as…
- § 4014 Any person, government or governmental agency, state or political subdivision thereof, public or private corporation, board, association, estate, trustee or…
- § 4015 With respect to the management, records, and affairs of a domestic mutual insurer qualified to transact any or all of the classes of insurance designated in…
- § 4016 Each member of a domestic mutual insurer is entitled to one vote upon each matter coming to a vote at meetings of members.
- § 4016.1 Notice of all meetings of members whether annual or special shall be given in writing to the members entitled to vote by the secretary, or an assistant…
- § 4016.2 (a) The presence in person or by proxy of 5 percent of the members of a domestic mutual insurer entitled to vote at any meeting shall constitute a quorum for…
- § 4017 A member shall have the right to vote in person or by his written proxy filed with the corporate secretary not less than five days prior to the meeting. No…
- § 4018 No member’s vote upon any proposal to divest the insurer of its business or assets, or the major part thereof, shall be registered or taken except in person or…
- § 4019 This chapter does not apply to a mutual insurer that has converted to a mutual legal reserve insurer pursuant to former Chapter 9 (commencing with Section…