US Laws, Codes, Statutes & Cases

§127.  Policyholders' meetings; voting rights

Domestic mutual insurers shall hold at least one policyholders' meeting annually at a time and place specified in the charter or bylaws of the insurer.  Each policyholder shall be entitled to one vote on matters coming before corporate meetings of the policyholders, subject to such reasonable minimum requirements as to duration of his policy and amount of insurance held as may be made in the insurer's charter or by-laws.  

The right to vote by any policyholder may be conferred upon any other policyholder by a written proxy.  Any proxy may be revoked at any time by the policyholder, upon written notice to the secretary of the insurer or the presiding officer at any meeting.  

Acts 1958, No. 125.