South Carolina Statutes
§ 38-19-60 — Quorum for conduct of business at annual meeting; form and approval of voting proxies.
At any annual meeting of a domestic mutual insurer all business including the election of directors must be conducted pursuant to majority vote of those members present and voting either in person or by proxy of nonpresent members as provided in Section 38-19-50. No other quorum requirements may limit the conduct of this business.
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South Carolina § 38-19-60 (Quorum for conduct of business at annual meeting; form and approval of voting proxies.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: Former 1976 Code SECTION 38-19-60 [1962 Code SECTION 37-825; 1971 (57) 1001; 1976 Act No. 666] recodified as SECTION 38-31-60 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-11-260 [1962 Code SECTION 37-375.1; 1976 Act No. 533] recodified as 38-19-60 by 1987 Act No. 155, SECTION 1; 1988 Act No. 334, SECTION 5. ARTICLE 3 Operations Generally
Nearby Sections
15
§ 38-19-10
Membership in mutual insurer.§ 38-19-1010
Fire and storm insurance; suits; seals.§ 38-19-1020
Directors and officers; regulations.§ 38-19-1030
Liability of members; property pledged; lien.§ 38-19-1050
Limit of amount insurance.§ 38-19-1110
Authorization to reorganize.§ 38-19-1120
Transition to domestic mutual insurance holding company system; membership interests of policyholders.§ 38-19-1130
Plan of reorganization; approval; contents.§ 38-19-1150
Policyholder meeting to vote on plan.§ 38-19-1180
Dividends and distributions; effect of adoption or implementation of plan of reorganization.§ 38-19-1190
Demutualization.