§ 26-24-117 — Meetings of members of domestic mutual insurers; where held; annual meeting

Wyoming § 26-24-117

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 24: ORGANIZATION AND CORPORATE PROCEDURES OF LEGAL

Text

(a) Meetings of members of a domestic mutual insurer shall
be held in the city or town of its registered office in this
state, except as may otherwise be provided in the insurer's
bylaws with the commissioner's approval.
(b) Each domestic mutual insurer, during each calendar
year shall:
(i) Hold the annual meeting of its members to fill
vacancies existing or occurring in the board of directors;
(ii) Receive and consider reports of the insurer's
officers as to its affairs; and
(iii) Transact any other business as may properly be
brought before it.
(c) Written notice of the time and place of the annual
meeting of members shall be given members not less than thirty
(30) days prior to the meeting. Notice may be given by
imprinting the notice plainly on the policies issued by the
insurer or in any other appropriate manner. Any change of the
date or place of the annual meeting shall be made only by an
annual meeting of members. Notice of any change, among other
appropriate methods, may be given:
(i) By imprinting the new date or place on all
policies which will be in effect as of the date of the changed
meeting; or
(ii) Unless the commissioner otherwise orders,
through policies issued after the date of the annual meeting at
which the change was made and in premium notices and renewal
certificates issued during the twenty-four (24) months
immediately following the meeting.
(d) If the required annual meeting of members has not been
held during the previous calendar year, the commissioner, upon
written request of any officer, director or member of the
insurer, shall cause written notice of the meeting to be given
to the insurer's members, and the meeting shall be held as soon
as reasonably possible thereafter.