20-714
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20-714. Quorum of members of mutual insurer A domestic mutual insurer may in its bylaws adopt a reasonable provision for determining a quorum of members at any meeting thereof, but no provision recognizing a quorum of fewer than a simple majority of all the insurer's members shall be effective unless approved as reasonable by the director of insurance. This section shall not affect any other provision of law requiring vote of a larger percentage of members for a specified purpose. |