§ 4211 — Election of directors of domestic stock life insurance companies

§ 4211. Election of directors of domestic stock life insurance\ncompanies. (a) No election of directors of a domestic stock life\ninsurance company shall be valid unless a copy of the notice of election\nshall have been filed in the office of the superintendent at least ten\ndays before the day of such election in addition to the service thereof,\nas required by section six hundred five of the business corporation law.\n (b) Whenever any directors of such a company shall have resigned and\nsuccessors shall have been chosen pursuant to the provisions of the\nby-laws, such successors shall not take office nor exercise their duties\nuntil ten days after written notice of their election shall have been\nfiled in the office of the superintendent.\n (c) Policyholders of such an insurance company shall be eligible for\nelection as directors or officers, whether or not they are shareholders.\n