Arizona § 20-714 Quorum of members of mutual insurer

Arizona Statutes

§ 20-714 — Quorum of members of mutual insurer

Arizona·Title 20 Arizona Revised Statutes·Ch. 4 PARTICULAR TYPES OF INSURERS·Art. 1 Domestic Stock and Mutual Insurers

A domestic mutual insurer may in its bylaws adopt a reasonable provision for determining a quorum of members at any meeting of the insurer, but no provision recognizing a quorum of fewer than a simple majority of all the insurer's members shall be effective unless approved as reasonable by the director of the department of insurance and financial institutions. This section does not affect any other law requiring a vote of a larger percentage of members for a specified purpose.

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A domestic mutual insurer may in its bylaws adopt a reasonable provision for determining a quorum of members at any meeting of the insurer, but no provision recognizing a quorum of fewer than a simple majority of all the insurer's members shall be effective unless approved as reasonable by the director of the department of insurance and financial institutions. This section does not affect any other law requiring a vote of a larger percentage of members for a specified purpose.

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