§ 24-A §3362 — Special meetings of members

Maine § 24-A §3362

• Jurisdiction: Maine
• Title 24-A: MAINE INSURANCE CODE
• Ch. 47: ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS

Text

1.
A special meeting of the members of a mutual insurer may be held for any lawful purpose.
The meeting shall be called by the corporate secretary pursuant to request of the insurer's president or of its board of directors, or upon request in writing signed by not less than 1/10 of the insurer's members. The meeting shall be held at such time as the secretary may fix, but not less than 10 nor more than 30 days after receipt of the request. If the secretary fails to issue such call, the president, directors or members making the request may do so.
2.
Not less than 10 days' written notice of the meeting shall be given.
Notice addressed to the insurer's members at their respective post-office addresses last of record with the insurer and deposited, postage prepaid, in a letter depository of the United States post office, shall be deemed to have been given when so mailed. In lieu of mailed notice, the insurer may publish the notice in such publication or publications as shall afford a majority of its members a reasonable opportunity to have actual advance notice of the meeting. The notice shall state the purposes of the meeting, and no business shall be transacted at the meeting of which notice was not so given.

Legislative History

PL 1969, c. 132, §1 (NEW). RR 2015, c. 2, §15 (COR).