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This entry was published on 2014-09-22
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SECTION 4211
Election of directors of domestic stock life insurance companies
Insurance (ISC) CHAPTER 28, ARTICLE 42
§ 4211. Election of directors of domestic stock life insurance
companies. (a) No election of directors of a domestic stock life
insurance company shall be valid unless a copy of the notice of election
shall have been filed in the office of the superintendent at least ten
days before the day of such election in addition to the service thereof,
as required by section six hundred five of the business corporation law.

(b) Whenever any directors of such a company shall have resigned and
successors shall have been chosen pursuant to the provisions of the
by-laws, such successors shall not take office nor exercise their duties
until ten days after written notice of their election shall have been
filed in the office of the superintendent.

(c) Policyholders of such an insurance company shall be eligible for
election as directors or officers, whether or not they are shareholders.