Maine § 24-A §3412 Officers; notice of change

Maine Statutes

§ 24-A §3412 — Officers; notice of change

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

1.An insurer's board of directors shall elect one of their number as president, and shall elect a corporate secretary and such other officers as may be provided for in the bylaws or otherwise required by law. Any such officer shall serve for such term as may be fixed in the bylaws or by the board of directors, but shall be subject to removal as an officer by the board of directors at any time.

2.Each officer shall have such powers and duties as may be prescribed by or pursuant to the insurer's charter or bylaws.

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1.
An insurer's board of directors shall elect one of their number as president, and shall elect a corporate secretary and such other officers as may be provided for in the bylaws or otherwise required by law. Any such officer shall serve for such term as may be fixed in the bylaws or by the board of directors, but shall be subject to removal as an officer by the board of directors at any time.
2.
Each officer shall have such powers and duties as may be prescribed by or pursuant to the insurer's charter or bylaws.

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