Maine § 24-A §3363 Voting rights of members

Maine Statutes

§ 24-A §3363 — Voting rights of members

Maine § 24-A §3363

Title 24-AMAINE INSURANCE CODE

Ch. 47ORGANIZATION, CORPORATE POWERS, PROCEDURES OF DOMESTIC LEGAL RESERVE STOCK AND MUTUAL INSURERS

This text of Maine § 24-A §3363 (Voting rights of members) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 24-A, § 24-A §3363 (2026).

Text

1.Each member of a mutual insurer is entitled to one vote upon each matter coming to a vote at a meeting of members, or to such other vote as may be provided for on a reasonable basis in the insurer's bylaws with the superintendent's approval.

2.A member has the right to vote in person or by the member's written proxy filed with the corporate secretary not less than 20 days prior to the meeting. Any such proxy may not be made irrevocable, or be valid beyond the earlier of the following dates:

3.No member's vote upon any proposal to divest the insurer of its business or assets, or the major part thereof, shall be registered or taken, except in person or by proxy newly executed and specific as to the matter to be voted upon.

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1.
Each member of a mutual insurer is entitled to one vote upon each matter coming to a vote at a meeting of members, or to such other vote as may be provided for on a reasonable basis in the insurer's bylaws with the superintendent's approval.
2.
A member has the right to vote in person or by the member's written proxy filed with the corporate secretary not less than 20 days prior to the meeting. Any such proxy may not be made irrevocable, or be valid beyond the earlier of the following dates:
3.
No member's vote upon any proposal to divest the insurer of its business or assets, or the major part thereof, shall be registered or taken, except in person or by proxy newly executed and specific as to the matter to be voted upon.

Legislative History

PL 1969, c. 132, §1 (NEW). PL 1973, c. 585, §12 (AMD). RR 2021, c. 1, Pt. B, §267 (COR). PL 2021, c. 676, Pt. A, §§38, 39 (AMD). RR 2021, c. 2, Pt. A, §75 (COR).