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New Jersey Statutes, Title: 17B, INSURANCE

    Chapter 18: Scope of chapter

      Section: 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 section added to the Rutgers Database: 2013-06-10 16:36:30.






Older versions of 17b:18-29 (if available):



Court decisions that cite this statute: CLICK HERE.