Montana Statutes
§ 33-3-304 — Proxies -- Corrupt Practices
Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 3 DOMESTIC STOCK AND MUTUAL INSURERS·Part 3 Management
33-3-304 . Proxies -- corrupt practices.
(1)Every proxy of a stockholder of an insurer, unless coupled with an interest, shall be revocable at will and this provision cannot be waived. The validity of every unrevoked proxy shall cease 11 months after the date of its execution unless some other definite period of validity is expressly provided therein, but in no event shall a proxy, unless coupled with an interest, be voted on after 3 years from the date of its execution.
(2)The revocation of a proxy shall not be effective until notice thereof has been given to the secretary of the insurer.
(3)No person shall buy or sell or barter a vote or proxy, relative to any meeting of stockholders or members of an insurer, or engage in any corrupt or dishonest practice in or relative to the conduct
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Legislative History
En. Secs. 435, 436, Ch. 286, L. 1959; R.C.M. 1947, 40-4718, 40-4719; amd. Sec. 23, Ch. 396, L. 2017.
Nearby Sections
15
§ 33-3-101
Scope Of Chapter§ 33-3-102
Definitions§ 33-3-201
Incorporation§ 33-3-202
Articles Of Incorporation -- Approval§ 33-3-205
Formation Of Mutual Insurer -- Bond§ 33-3-209
Through 33-3-214 Reserved§ 33-3-215
Mutualization Of Stock Insurer