N.J.S.A. 17B:18-29 — Election of directors in mutual insurer issuing temporary stock

17B:18-29. Election of directors in mutual insurer issuing temporary stock A bare majority of the entire board of directors of a domestic mutual insurer which issues temporary capital stock, as provided in section 17B:18-9, shall be elected by the holders of the temporary stock, and the rest of the directors shall be elected by the policyholders, in the manner and with the representation provided in its certificate of incorporation. After the retirement of the capital stock all the directors shall be so elected by the policyholders. L.1971, c. 144, s. 17B:18-29.

This is the verbatim text of N.J.S.A. 17B:18-29, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.