Section 58-5-40 - Meetings of members of domestic mutual insurer--Time, notice, quorum, and conduct

58-5-40. Meetings of members of domestic mutual insurer--Time, notice, quorum, and conduct.The bylaws of a domestic mutual insurer shall provide the time, notice, quorum, and conduct of annual and special meetings of members. In no event shall a quorum at any meeting of members be less than five percent of the total membership. Source: SL 1966, ch 111, ch 16, §16 (2) (c), (3); SL 1968, ch 135; SL 1973, ch 297.