§ 23-69-102 - Definitions.
23-69-102. Definitions.
As used in 23-69-101 -- 23-69-103, 23-69-105 -- 23-69-141, 23-69-143, and 23-69-149 -- 23-69-156, unless the context otherwise requires:
(1) A "stock" insurer is an incorporated insurer with capital divided into shares and owned by its stockholders;
(2) A "mutual" insurer is an incorporated insurer without permanent capital stock and the governing body of which is elected as provided in 23-69-101 -- 23-69-103, 23-69-105 -- 23-69-141, 23-69-143, and 23-69-149 -- 23-69-156.