§ 27-1-7-12 — Directors; attendance record and report; record of communications; annual examination and report of condition

In addition to such other duties as may be
imposed upon the directors by any other provisions of this article, such
directors shall keep a record of the attendance of directors at meetings
of the board, and shall make a report showing the names of the
directors, the number of meetings of the board, regular and special, the
number of meetings attended, and the number of meetings from which
each director was absent, which report shall be read at and incorporated
in the minutes of the annual meeting of the shareholders, members, or
policyholders. Such directors, at such times as they are meeting as a
board of directors, shall also require the secretary of such board, or
some other duly designated agent, to make such communications from
the department as the department designates a matter of record in the
minutes of the meetings of such board of directors. The board of
directors, a committee therefrom, or the auditor, actuary, or comptroller
of such corporation shall examine the corporation once each year and
submit a complete statement of the condition of such corporation to the
department. Such report of examination, if made by other than the
board of directors or a committee thereof, shall be approved by the
board of directors before the same is submitted to the department.
Formerly: Acts 1935, c.162, s.90. As amended by P.L.252-1985,
SEC.29.