Montana § 33-3-305 Directors -- Number And Election

Montana Statutes

§ 33-3-305 — Directors -- Number And Election

Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 3 DOMESTIC STOCK AND MUTUAL INSURERS·Part 3 Management

33-3-305 . Directors -- number and election.

(1)The affairs of every domestic insurer must be managed by the number of directors fixed in the insurer's bylaws, which may not be less than 5 or more than 21 directors.

(2)Directors must be elected by the members or stockholders of a domestic insurer, except as provided in 33-3-306 , at the time and place and for the terms, not exceeding 3 years, as may be provided in the insurer's bylaws. A majority of directors must be elected from the members or stockholders of the domestic insurer.

(3)The term of a director shall extend until a successor has been elected and has qualified.

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33-3-305 . Directors -- number and election. (1) The affairs of every domestic insurer must be managed by the number of directors fixed in the insurer's bylaws, which may not be less than 5 or more than 21 directors.
(2) Directors must be elected by the members or stockholders of a domestic insurer, except as provided in 33-3-306 , at the time and place and for the terms, not exceeding 3 years, as may be provided in the insurer's bylaws. A majority of directors must be elected from the members or stockholders of the domestic insurer.
(3) The term of a director shall extend until a successor has been elected and has qualified.

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