California § 688.2. 688.2. (Added by Stats. 1963, Ch. 1285.)

California Statutes

§ 688.2. — 688.2. (Added by Stats. 1963, Ch. 1285.)

California § 688.2.

JurisdictionCalifornia

Code INSInsurance Code - INS

Div. 1.DIVISION 1. GENERAL RULES GOVERNING INSURANCE

Part 2.PART 2. THE BUSINESS OF INSURANCE

Ch. 1.CHAPTER 1. General Regulations

Art. 1.7.ARTICLE 1.7. Continuity of Management

This text of California § 688.2. (688.2. (Added by Stats. 1963, Ch. 1285.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Insurance Code - INS Code § 688.2. (2026).

Text

In the event that the board of directors of a domestic insurer has not adopted emergency bylaws, the following provisions shall become effective upon the occurrence of such a national emergency:

(1)Three directors shall constitute a quorum for the transaction of business at all meetings of the board.

(2)Any vacancy in the board may be filled by a majority of the remaining directors, though less than a quorum, or by a sole remaining director.

(3)If there are no surviving directors, but at least three vice presidents of the company survive, the three vice presidents with the longest term of service shall be the directors and shall possess all of the powers of the previous board of directors and such powers as are granted herein or by subsequently enacted legislation. By majority vote suc

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In the event that the board of directors of a domestic insurer has not adopted emergency bylaws, the following provisions shall become effective upon the occurrence of such a national emergency:
(1)
Three directors shall constitute a quorum for the transaction of business at all meetings of the board.
(2)
Any vacancy in the board may be filled by a majority of the remaining directors, though less than a quorum, or by a sole remaining director.
(3)
If there are no surviving directors, but at least three vice presidents of the company survive, the three vice presidents with the longest term of service shall be the directors and shall possess all of the powers of the previous board of directors and such powers as are granted herein or by subsequently enacted legislation. By majority vote such emergency board of directors may elect other directors. If there are not at least three surviving vice presidents, the commissioner or duly designated person exercising the powers of the commissioner shall appoint three persons as directors who shall possess all of the powers of the previous board of directors and such powers as are granted herein or by subsequently enacted legislation, and these persons by majority vote may elect other directors.