2016 Kentucky Revised Statutes CHAPTER 304 - INSURANCE CODE Subtitle 24 - Domestic Stock and Mutual Insurers 304.24-200 Special meetings of members of mutual insurer.
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304.24-200 Special meetings of members of mutual insurer.
(1)
(2)
A special meeting of the members of a mutual insurer may be held for any lawful
purpose. The meeting shall be called by the corporate secretary pursuant to request
of the insurer's president or of its board of directors, or upon request in writing
signed by not less than one-tenth (1/10) of the insurer's members. The meeting shall
be held at such time as the secretary may fix, but not less than ten (10) nor more
than thirty (30) days after receipt of the request. If the secretary fails to issue such
call, the president, directors, or members making the request may do so.
Not less than ten (10) days' written notice of the meeting shall be given. Notice
addressed to the insurer's members at their respective post office addresses last of
record with the insurer and deposited, postage prepaid, in a letter depository of the
United States post office, shall be deemed to have been given when so mailed. In
lieu of mailed notice the insurer may publish the notice in such publication or
publications as shall afford a majority of its members a reasonable opportunity to
have actual advance notice of the meeting. The notice shall state the purpose of the
meeting, and no business shall be transacted at the meeting of which notice was not
so given.
Effective: June 18, 1970
History: Created 1970 Ky. Acts ch. 301, subtit. 24, sec. 20, effective June 18, 1970.
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