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304.24-080 Amendment of articles of incorporation -- Mutual insurers.
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A domestic mutual insurer heretofore or hereafter formed may amend its
articles of incorporation for any lawful purpose by affirmative vote of a majority
of those of its members present or represented by proxy at any regular annual
meeting of its members, or at any special meeting of members called for the
purpose. Written notice of the proposed amendment shall be given members at
least thirty (30) days prior to the meeting, and may be given in the same
manner and at the same time as notice of the meeting is given or in any other
appropriate manner.
Upon adoption of the amendment the insurer shall prepare articles of
amendment in quadruplicate, setting forth the amendment and the date and
manner of the adoption thereof. The articles of amendment shall be executed
by the insurer's president or vice president and secretary or assistant
secretary, and be acknowledged by them before an officer authorized by law to
take acknowledgments of deeds.
The quadruplicate originals of the articles of amendment shall be delivered to
the commissioner, shall be subject to examination and certification by the
Attorney General, to approval by the commissioner, and to filing, all as
provided for original articles of incorporation under KRS 304.24-040. For filing
articles of amendment of the articles of incorporation of a domestic mutual
insurer the Secretary of State shall charge and collect a fee of ten dollars
($10), for credit to the general fund.
Effective:July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1325, effective July 15, 2010. -Created 1970 Ky. Acts ch. 301, subtit. 24, sec. 8, effective June 18, 1970.
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