2006 Kentucky Revised Statutes - .030   Emergency bylaws.

304.25-030 Emergency bylaws. (1) With the approval of the executive director, any domestic organization may, at any time, adopt, in the same manner as in the case of ordinary bylaws, emergency bylaws to become operative during a period of acute emergency. Emergency bylaws may contain provisions with respect to the number of directors capable of acting which shall constitute its board, the number of such directors which shall constitute a quorum at a meeting of the board, the number of votes necessary for action by such board, the manner in which vacancies on the board shall be filled, the line of succession of its officers, and the interim management of the affairs of the insurance organization; such provisions, if approved by the executive director, need not comply with the requirement of the charter of such domestic organization or of the insurance or incorporation laws of this state. (2) KRS 304.25-040 and subsections (2) to (6), inclusive, of KRS 304.25-050, shall not be applicable during a period of acute emergency to any domestic organization operating in accordance with and under emergency bylaws theretofore approved by the executive director. Effective: June 18, 1970 History:Created 1970 Ky. Acts ch. 301, subtit. 25, sec. 3, effective June 18, 1970. Legislative Research Commission Note (6/20/2005). 2005 Ky. Acts chs. 11, 85, 95, 97, 98, 99, 123, and 181 instruct the Reviser of Statutes to correct statutory references to agencies and officers whose names have been changed in 2005 legislation confirming the reorganization of the executive branch. Such a correction has been made in this section.