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2020 New Mexico Statutes
Chapter 59A - Insurance Code
Article 34 - Domestic Stock and Mutual Insurers
Section 59A-34-27 - Mutual members, quorum.
Universal Citation: NM Stat § 59A-34-27 (2020)
A domestic mutual insurer may in its bylaws adopt a reasonable provision for determining a quorum of members at any meeting thereof, but no provision recognizing a quorum of fewer than a simple majority in person or proxy of all the insurer's members shall be effective unless approved as reasonable by the superintendent. This section shall not affect any other provision of law requiring vote of a different percentage of members for a specified purpose.
History: Laws 1984, ch. 127, § 573.
ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 44 C.J.S. Insurance § 117.
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