72A.16 — Mutual companies.

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     72A.16 Mutual companies.  


    Subdivision 1.    Unlawful procurement or use of proxy.  
  Every officer or agent of a domestic mutual insurance company 
 who shall solicit, receive, procure to be obtained, or use, a 
 proxy vote in violation of any provision of law shall be guilty 
 of a gross misdemeanor.  


    Subd. 2.    Guaranty against assessment.  Every 
 director, officer, or agent of an insurance company who 
 officially or privately gives a guaranty to a policyholder 
 thereof against an assessment for which the policyholder would 
 otherwise be liable shall be guilty of a misdemeanor.  


    HIST: 1967 c 395 art 12 s 16; 1986 c 444 


Copyright 2005 by the Office of Revisor of Statutes, State of Minnesota.