New York § 1215 Forfeiture of office by director or trustee of a domestic mutual insurer

New York Statutes

§ 1215 — Forfeiture of office by director or trustee of a domestic mutual insurer

New York § 1215

Law ISCInsurance

Art. 12Organization and Corporate Procedure

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Bluebook

N.Y. Insurance § 1215 (2026).

Text

  § 1215. Forfeiture of office by director or trustee of a domestic\nmutual insurer. The office of a trustee or director of any domestic\nmutual insurer shall immediately become vacant whenever he fails to\nattend at least one regular meeting of the board of trustees or\ndirectors in any period of eighteen consecutive months, or unless\nexcused by the board, which action shall be entered on the minutes, it\nshall appear at the end of any calendar year that he failed to attend at\nleast one-half of such regular meetings held in such calendar year. A\ntrustee or director whose office becomes so vacant shall not be eligible\nfor election to such office until one year has elapsed from the date the\nvacancy occurred.\n

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§ 1215. Forfeiture of office by director or trustee of a domestic\nmutual insurer. The office of a trustee or director of any domestic\nmutual insurer shall immediately become vacant whenever he fails to\nattend at least one regular meeting of the board of trustees or\ndirectors in any period of eighteen consecutive months, or unless\nexcused by the board, which action shall be entered on the minutes, it\nshall appear at the end of any calendar year that he failed to attend at\nleast one-half of such regular meetings held in such calendar year. A\ntrustee or director whose office becomes so vacant shall not be eligible\nfor election to such office until one year has elapsed from the date the\nvacancy occurred.\n