§ 24-A §3306 — Incorporation of domestic stock, mutual insurers

1.
This section applies to stock and mutual insurers hereafter incorporated in this State.
Such an insurer may be formed for the purpose of transacting any kind or kinds of insurance, as well as annuity business.
2.
Incorporators.
Three or more individuals, none of whom is less than 18 years of age, may incorporate a stock insurer; 10 or more such individuals may incorporate a mutual insurer. At least a majority of the incorporators must be citizens of the United States of America.
3.
Articles of incorporation.
The incorporators shall execute articles of incorporation in triplicate, and at least a majority of the incorporators shall acknowledge their execution of the articles of incorporation under oath. The articles of incorporation must state and show:

Legislative History

PL 1969, c. 132, §1 (NEW). PL 1973, c. 625, §148 (AMD). PL 2013, c. 299, §2 (AMD).