Insurance Law 1215 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 1214 Acting for foreign corporation which has not designated superintendent as attorney up ARTICLE 12 Organization and Corporate Procedure next SECTION 1216 Notice of indemnification of directors and officers of insurance corporations Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 1215 Forfeiture of office by director or trustee of a domestic mutual insurer Insurance (ISC) CHAPTER 28, ARTICLE 12 § 1215. Forfeiture of office by director or trustee of a domestic mutual insurer. The office of a trustee or director of any domestic mutual insurer shall immediately become vacant whenever he fails to attend at least one regular meeting of the board of trustees or directors in any period of eighteen consecutive months, or unless excused by the board, which action shall be entered on the minutes, it shall appear at the end of any calendar year that he failed to attend at least one-half of such regular meetings held in such calendar year. A trustee or director whose office becomes so vacant shall not be eligible for election to such office until one year has elapsed from the date the vacancy occurred.