§ 26.1-12-16 — Vote by proxy permitted - Manner of voting by proxy

Members of a mutual insurance company may vote by proxy dated and executed within
three months prior to the meeting at which the proxy is to be used when returned and recorded
on the books of the company three days or more before the meeting. A person may not as proxy
or otherwise cast more than fifty votes, and an officer, personally or by another, may not ask for,
receive, procure to be obtained, or use, a proxy vote. This section does not apply to a proxy
committee duly established by the bylaws comprised of no less than three members appointed
by the board of directors whose duty is to cast the vote by proxy of members at any duly called
annual or special meeting of the mutual insurance company.