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This entry was published on 2014-09-22
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ARTICLE 12
Organization and Corporate Procedure
Insurance (ISC) CHAPTER 28
ARTICLE 12

ORGANIZATION AND CORPORATE PROCEDURE
Section 1201. Incorporation of stock or mutual insurance companies.

1202. Number of directors; independent directors and committees

of the board of directors; duty of directors.

1203. Non-use of corporate charter.

1204. Sale of insurance securities.

1205. Existing corporations.

1206. Amendments to charters and increase of capital of

insurance corporations.

1207. Options for the purchase of shares.

1208. Method of amending mutual company charters.

1209. Management and by-laws of mutual insurance corporations.

1210. By-laws of domestic stock life insurance companies.

1211. Mutual insurance corporations; membership and dividends.

1212. Service of process upon superintendent as attorney.

1213. Service of process on superintendent as attorney for

unauthorized insurers.

1214. Acting for foreign corporation which has not designated

superintendent as attorney.

1215. Forfeiture of office by director or trustee of a domestic

mutual insurer.

1216. Notice of indemnification of directors and officers of

insurance corporations.

1217. Vouchers for disbursements.

1218. Regulation of stock ownership, interlocking directors and

common management.

1219. Misconduct by directors; insolvency.

1220. Misconduct by officers and directors of co-operative fire

insurance companies and of fraternal benefit societies.

1221. Transactions by officers, directors and certain

shareowners in the insurer's shares.