§ 26-24-119 — Voting rights of members of mutual insurers

(a) Each member of a mutual insurer is entitled to one (1)
vote upon each matter coming to a vote at meetings of members.
(b) A member has the right to vote in person or by his
written proxy filed with the corporate secretary not less than
five (5) days prior to the meeting. No proxy shall be made
irrevocable, nor be valid beyond the earlier of the following
dates:
(i) The date of expiration set forth in the proxy; or
(ii) The date of termination of membership; or
(iii) Five (5) years from the date of execution of
the proxy.
(c) No member's vote upon any proposal to divest the
insurer of its business or assets, or the major part thereof,
shall be registered or taken except in person or by proxy newly
executed and specific as to the matter to be voted upon.