Section 379.865

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 379

Effective - 28 Aug 1969   

  379.865.  Annual and special meetings. — 1.  There shall be an annual meeting of the insurers and members of the governing committee on a date fixed by the committee.

  2.  A special meeting may be called at such time and place designated by the committee or upon the written request to the committee of any ten insurers, not more than one of which may be in a group under the same management or ownership.

  3.  Twenty days' notice of such annual or special meeting shall be given in writing by the committee to insurers.  A majority of the insurers shall constitute a quorum.  Voting by proxy shall be permitted.  Notice of any meeting shall be accompanied by an agenda for such meeting.

  4.  Any matter may be proposed and voted upon by mail, provided such procedure is unanimously authorized by the members of the committee present and voting at any meeting of the committee.  If so approved by the committee, notice of any proposal shall be mailed to the insurers not less than twenty days prior to the final date fixed by the committee for voting thereon.

  5.  At any regular or special meeting at which the vote of the insurers is or may be required on any proposal or any vote of the insurers which may be taken by mail on any proposal, such votes shall be cast and counted on a weighted basis in accordance with each insurer's premiums written.  On any proposal, deemed by the committee to relate exclusively to habitational or exclusively to commercial business, the votes shall be cast and counted on a weighted basis in accordance with each insurer's respective habitational or commercial premiums written, as the case may be.  A proposal shall become effective when approved by at least two-thirds of the votes cast on such weighted basis.

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(L. 1969 H.B. 772 § 379.131)