Corporate Governance of Mutual Insurance Companies

Statutory Citation Links to Corporate Governance Laws Affecting the Mutual Insurance Industry

This page provides links to the sections within each state's laws that impact corporate governance for mutual insurance companies. Each section listed will link directly to the provisions of the legislation referenced. If you have any questions about this information or the links provided please contact NAMIC's Industry Knowledge Manager Ken Marshall at (317) 875-5250.

To go directly to a specific state, click on one of the links below. Alabama \| Alaska \| Arizona \| Arkansas \| California \| Colorado \| Connecticut \| Delaware \| Florida \| Georgia \| Hawaii \| Idaho \| Illinois \| Indiana \| Iowa \| Kansas \| Kentucky \| Louisiana \| Maine \| Maryland \| Massachusetts \| Michigan \| Minnesota \| Mississippi \| Missouri \| Montana \| Nebraska \| Nevada \| New Hampshire \|New Jersey \| New Mexico \| New York \| North Carolina \| North Dakota \| Ohio \| Oklahoma \| Oregon \| Pennsylvania \| Rhode Island \| South Carolina \| South Dakota \| Tennessee \| Texas \| Utah \| Vermont \| Virginia \| Washington \| West Virginia \| Wisconsin \| Wyoming		Alabama Alabama Code Title 27 - Insurance Chapter 27 - Organization and Corporate Procedures of Stock and Mutual Insurers: Section 21 Membership Section 22 Bylaws Section 23 Directors Section 24 Directors Section 25 Member meetings Section 26 Officer pecuniary interests Section 27 Exclusive contracts Section 28 Change of Director Notification Section 38 Dividends Section 39 Liability for illegal dividends
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Alaska Alaska Statutes Title 21 - Insurance Chapter 69 - Organization and Corporate Procedures Section 290 Bylaws of Mutual Section 310 Stockholders or Members Section 320 Proxies Section 330 Corrupt Practices Section 340 Directors Section 360 Bond of Officers of Mutual Section 370 Prohibited Pecuniary Interest of Officials Section 380 Management and Exclusive Agency Contracts Section 500 Dividends to Mutual Policyholders Section 510 Illegal Dividends Section 550 Directors Liability for Losses During Deficiency Section 680 Succession of Corporate Officers During National Emergency		Arizona Arizona Revised Statutes Title 20 - Insurance Chapter 4 - Particular Types of Insurers Article 1 - Domestic Stock and Mutual Insurers Section 20-713 - Bylaws of Mutual Insurer Section 20-714 - Quorum of Members of Mutual Insurer Section 20-715 - Membership in Mutual Insurer Section 20-716 - Rights of Mutual Insurer Member Section 20-723 - Dividends to Mutual Policyholders Section 20-724 - Illegal Dividends, Classification Section 20-726 - Prohibited Interests of Officers and Directors Section 20-727 - Management and Exclusive Agency Contracts
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Arkansas Arkansas Code Title 23 - Public Utilities and Regulated Industries Subtitle 3 - Insurance Chapter 69 - Domestic Stock and Mutual Insurers Section 108 - Officers Section 109 - Pecuniary Interest of Officers Section 110 - Vacancies on the Board of Directors Section 118 - Membership, Mutual Insurers Section 119 - Bylaws, Mutual Insurers Section 120 - Meetings of Stockholders or Members Section 123 - Buying of Vote or Proxy, Corrupt and Dishonest Practices Prohibited Section 130 - Dividends to Mutual Policyholders Section 131 - Unauthorized Dividends Prohibited Section 137 - Management and Exclusive Agency Contracts		California California Insurance Code Division 1 - General Rules Governing Insurance Part 2 - The Business of Insurance Chapter 1 - General Regulations Section 688-688.5 Continuity of Management Division 2 - Classes of Insurance Part 1 - Fire and Marine Insurance Chapter 4 - General Mutual Insurers Section 4010-4019 - General Provisions Section 4020-4023 - Directors Section 4030-4034 - Management and Exclusive Agency Contracts Section 4050-4052 - Dividends to Policyholders Chapter 5 - County Mutual Fire Insurers Section 5050-5063 - Formation and Organization Section 5080-5081 - Powers Section 5090-5094 - Membership
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Colorado Colorado Revised Statutes Title 10 - Insurance Article 3 - Regulation of Insurance Companies Part 1 - General Section 111 - Violations, Penalties Section 112 - Directors, Terms, Election, Conflicts of Interest, Recovery of Profits Section 113 - Increase of Capital Section 114 - Violations, Penalties Section 204 - Payment of Dividends Section 205 - Manner of Paying Surplus Article 12 - Mutual Insurance Part 1 - Mutual Insurance Companies and Mutual Protective Associations Section 107 - Ownership of Profits Section 108 - Mutual Insurance Companies - Corporation Policyholders Section 109 - Mutual Insurance Companies - Voting Powers Part 4 - Mutual Insurance Companies Section 407 - Bylaws Section 409 - Dividends		Connecticut Connecticut General Statutes Annotated Title 38A - Insurance Section 60 - Continuity of Management During National Emergencies Section 62 - Indemnification of Directors, Officers and Employees of Mutual Insurance Companies Section 63 - Limitation of Liability of Director of Mutual Insurance Company
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Delaware Delaware Code Annotated Title 18 - Insurance Code Part 1 - Insurance Chapter 49 - Organization and Corporate Powers, Procedures of Domestic Stock and Mutual Insurers Section 4911 - Membership in Mutual Section 4913 - Minutes of Corporate Meetings of Mutual Insurers Section 4919 - Changer of Officers or Directors, Notice Section 4920 - Prohibited Pecuniary Interests of Officials Section 4921 - Management and Exclusive Agency Contracts Section 4924 - Dividends to Policyholders		Florida Florida Statutes Annotated Title XXXVII - Insurance Chapter 628 - Stock and Mutual Insurers, Holding Companies Part I - Stock and Mutual Insurers: Organization and Corporate Procedures Section 221 - Bylaws of Mutuals Section 231 - Directors Section 251 - Management and Exclusive Agency Contracts Section 255 - Person with Effective Control Cannot Receive Commission Unless Contract Approved, Penalties Section 261 - Notice of Change of Director or Officer Section 301 - Membership in Mutual Insurer Section 381 - Dividends to Mutual Policyholders Section 391 - Illegal Dividends, Penalty
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Georgia Code of Georgia Title 33 - Insurance Chapter 14 - Governs Domestic Mutual and Stock Insurance Companies Section 12 - Board of Directors Section 14 - Management Section 17 - Voting Section 60 - Bylaws Section 67 - Policyholder Rights		Hawaii Hawaii Revised Statutes Annotated Division 2 Title 24 Chapter 431 Article 4 Section 104 - Articles of Incorporation Section 105 - Affadavit Section 106 - Board of Directors Section 122 - Depositaries Part III - Domestic Mutual Insurers Section 309 - Rights of Members Section 310 - Bylaws Section 311 - Notice of Annual Meeting Section 312 - Members Proxies Section 313 - Directors Section 324 - Dividends Section 326 - Member Share of Assets
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Idaho Idaho Statutes Title 41 - Insurance Chapter 28 - Organization and Corporate Procedures of Stock and Mutual Insurers Section 2827 - Amendment of Articles of Incorporation Section 2829 - Membership in Mutuals Section 2830 - Bylaws of Mutual Section 2831 - Rights of Mutual Members in General Section 2832 - Meetings of Members of Mutual Insurers Section 2833 - Special Meetings of Members of Mutual Insurers Section 2834 - Voting Rights of Mutual Members Section 2835 - Directors Section 2836 - Notice of Change of Directors or Officers Section 2837 - Prohibited Pecuniary Interests of Officials Section 2838 - Management and Exclusive Agency Contracts Section 2844 - Dividends to Policyholders Section 2868 - Proxy Regulations		Illinois Illinois Compiled Statutes Annotated Chapter 215 - Insurance Act 5 - Illinois Insurance Code Article 3 - Domestic Mutual Insurers Section 40 - Directors and Trustees Section 42 - Bylaws Section 44 - Articles of Incorporation Section 54 - Dividends Section 57 - Amendments of Articles of Incorporation
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Indiana Indiana Code Title 27 - Insurance Article 1 - Department of Insurance Chapter 7 - General Corporate Powers and Responsibilities of Insurance Companies Section 7-6 - Bylaws Section 7-7 - Meetings Section 7-9 - Voting Rights Section 7-10 - Board of Directors Section 7-11 - Director Qualifications Section 7-12 - Director Requirements Section 7-12.5 - Directors, good faith discharge of duties Section 7-13 - Officers		Iowa Iowa Code Annotated Title XIII - Commerce Subtitle 1 - Insurance and Related Regulation Chapter 515 - Insurance other than Life Section 515.2 - Articles, approval and bylaws Section 515.14 - Membership in Mutuals Section 515.15 - Voting Power Section 515.26 - Directors Section 515.27 - Election Section 515.28 - Term of Office Section 515.29 - Classification of Directors Section 515.30 - Election of Officers Section 515.31 - Filling of Vacancies Section 515.32 - Bylaws Section 515.121 - Officers Punished
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Kansas Kansas Statutes Annotated Chapter 40 - Insurance Article 2 - General Provisions Section 135 - Policyholder Rights Relative to Violations and Sanctions Section 233 - Dividends, Interest or Bonus Payments Section 260 - Adoption of Emergency Bylaws Section 261 - Effective Provisions if Emergency Bylaws not Adopted at Time of Emergency Section 262 - Succession, National Emergency Plans Section 272 - Regulations Regarding Proxies Article 12 - Mutual Insurance Companies Other than Life Section 1202 - Articles of Incorporation Section 1205 - Corporate Membership Section 1206 - Member Votes Section 1219 - Policyholder Meetings and Voting Rights		Kentucky Kentucky Revised Statutes Title XXV - Business and Financial Institutions Chapter 304 - Insurance Code Subtitle 24 - Domestic Stock and Mutual Insurers Section .040 - Incorporation & Votes Allotted to & Policyholders Section .080 - Amendment of Articles of Incorporation for Mutual Insurers Section .160 - Membership in Mutuals Section .170 - Bylaws Section .180 - Rights of Mutual Members in General Section .190 - Meetings of Members of Mutual Insurer Section .200 - Special Meetings of Members of Mutual Insurer Section .210 - Voting Rights of Mutual Members Section .270 - Prohibited Pecuniary Interests Section .280 - Management and Exclusive Agency Contracts Section .330 - Dividends to Policyholders
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Louisiana Louisiana Revised Statutes Title 22 - Insurance Section 38 - Amendment to Articles of Incorporation Section 125 - Dividends Section 127 - Policyholder Meetings and Voting Rights Section 128 - Election of Officers and Directors Section 129 - Duties of Officers Section 164 - Dividends Limits Relative to Reserve Deficiency		Maine Maine Revised Statutes Annotated Title 24-A - Maine Insurance Code Chapter 47 - Organization, Corporate Powers, Procedures of Domestic Legal Reserve Stock and Mutual Insurers Subchapter 2 - Provisions Applying Only to Mutual Insurers Section 3359 - Bylaws Section 3360 - Members are Policyholders Section 3361 - Meetings of Members in General Section 3362 - Special Meetings Section 3363 - Voting Rights of Members Subchapter 3 - Provisions to Stock and Mutual Insurers Section 3411 - Directors Section 3412 - Officers, Notice of Change Section 3413 - Prohibited Pecuniary Interest Section 3414 - Management, Commission and Exclusive Agency Contracts Section 3418 - Dividends to Policyholders
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Maryland Maryland Code Insurance Title 3 - Kinds of Insurance Subtitle 1 - Stock Insurers and Mutual Insurers Section 3-103 - Formation of Insurers: Membership, Voting Rights and Directors Section 3-115 - Dividends		Massachusetts Massachusetts General Laws Annotated Chapter 175 - Insurance Section 50A - Mutual Companies, Amendment of Articles of Organization Mutual Companies Section 76 - Fire Companies, Members Section 77 - Fire Companies, Directors Section 79 - Fire Companies, Guaranty Capital, Dividends and Retirement Section 80 - Fire Companies, Dividends, Accumulated Profits Continuity of Operation of Insurers in National Emergencies Section 180N - Emergency Bylaws in Cases of National Emergency Section 180O - Board of Directors (Actions and Quorum in Case of National Emergency)
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Michigan Michigan Compiled Laws Annotated Chapter 52 - Corporate Powers, Procedures of Stock and Mutual Insurers Section 5206 - Corporate Powers, Enumeration, Exercise by Board of Directors Section 5214 - Articles of Incorporation, Amendment Section 5228 - Bylaws Section 5230 - Special Meetings Section 5232 - Voting Rights Section 5234 - Voting Rights, Quorum Chapter 58 - General Mutual Insurers Section 5824 - Voting Rights of Members		Minnesota Minnesota Statutes Chapters 59A-79A - Insurance Chapter 66A - Mutual Companies Section 60A.07 - Authorization and Requirements 66A.05 - Bylaws 66A.07 - Membership, Meetings, Notices, Voting 66A.14 - Dividends 66A.18 - Voting and Notice 66A.24 - Officers 66A.25 - Proxies and Restrictions
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Mississippi Mississippi Statutes Title 83 - Insurance Chapter 19 - Domestic Companies Section 19.13 - Bylaws Section 19.16 - Commissioner of Insurance to be Notified of Changes in Officers or Directors Chapter 31 - Mutual Companies Section 31.9 - Corporate Powers Section 31.25 - Voting of Members		Missouri Missouri Revised Statutes Title XXIV - Business and Financial Institutions Chapter 375 - Provisions Applicable to all Insurance Companies Section 375.181 - Officers Required of Companies Section 375.183 - Directors to Investigate Incoporators, Directors and Proposed Officers Section 375.186 - Seal and Bylaws Section 375.191 - Voting by Proxy Chapter 379 - Insurance Other than Life Section 379.060 - Charter of Mutual Companies Section 379.245 - Voting Power of Members
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Montana Montana Code Annotated Title 33 - Insurance and Insurance Companies Chapter 2 - Regulation of Insurance Companies Part I - Authorization of Insurers Section 33.3.201 - Incorporation Chapter 3 - Domestic Stock and Mutual Insurers Part III - Management Section 33.3.301 - Bylaws Section 33.3.303 - Meetings of Stockholders of Members Section 33.3.304 - Proxies Section 33.3.305 - Directors Section 33.3.307 - Bonding of Officers and Employees Section 33.3.308 - Prohibited Pecuniary Interest of Officials Section 33.3.309 - Management and Exclusive Agency Contracts Part IV - Finance Section 33.3.423 - Dividends to Mutual Policyholders Section 33.3.424 - Illegal Dividends Part V - Insurance Operations Section 3.33.503 - Membership in Mutuals		Nebraska Nebraska Revised Statutes Chapter 44 - Insurance Section 44-207 - Insurance Companies, Formation, Executive Officers, Qualifications Section 44-210 - Annual Meeting, Special Meetings, Voting Rights, Proxies, etc. Section 44-212 - Officers, Elections, Terminations and Salaries Section 44 -213 - Employees, Officers and Directors Section 44-216 - Mutual Companies Section 44-217 - Mutual Companies
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Nevada Nevada Revised Statutes Title 57 - Insurance Chapter 693A - Corporate Powers and Procedures of Domestic Stock and Mutual Insurers Section 110 - Management and Agency Contracts Section 120 - Prohibited Pecuniary Interests of Officers Section 150 - Participating Policies Section 160 - Dividends to Policyholders Section 200 - Mutual Insurers, Membership Section 210 - Bylaws		New Hampshire New Hampshire Statutes Annotated Title XXXVII - Insurance Chapter 401 - Incorporation and Powers of Insurance Companies Section 401.7 - Amendment to Charter or Articles of Incorporation Section 401.13 - Officers Chapter 402 - Insurance Companies and Agents Section 402.8 - Dividends Section 402.9 - Dividend Notice to Policyholders
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New Jersey New Jersey Statutes Annotated Title 17B - Insurance Section 18.3 - Mutual Insurer Defined Section 18.4 - Organization of Stock or Mutual Insurer Section 18.7 - Certificate of Incorporation of Mutual Insurer and Election of Directors Section 18.10 - Election of Directors of Mutual Insurer Section 18.11 - Nomination of Candidates for Director Section 18.12 - Death, Withdrawal or Incapacity of Candidates for Director Section 18.13 - Qualified Voters, Policyholder Defined Section 18.14 - Election of Directors of Mutual Insurers, Procedures and Ballots Section 18.15 - Nominations of Others than Board of Directors, Nominations Section 18.16-.17 - Canvass of Votes, Ties and Report of Election Results		New Mexico New Mexico Statutes Annotated Chapter 59A - Insurance Code Article 34 - Domestic Stock and Mutual Insurers Section 34.6 - Amendment to Articles of Incorporation Section 34.8 - Prohibited Interest of Officers, Directors and Employees Section 34.9 - Salaries of Officers and Directors Section 34.17 - Management, Compensation and Agency Contracts Section 34.20 - Dividends to Policyholders Section 34.24 - Mutual Membership Section 34.25 - Mutual Members Corporate Rights Section 34.26 - Mutual Insurer Bylaws Section 34.27 - Quorum
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New York Consolidated Laws of New York ISC - Insurance Article 12 - Organization and Corporate Procedure Section 1202 - Directors and Committees Section 1208 - Method of Amending Mutual Company Charter Section 1209 - Management and Bylaws of Mutual Insurer Section 1211 - Mutual Insurers, Membership and Dividends Section 1215 - Forfeiture of Office by Director or Trustee Section 1219 - Misconduct by Directors		North Carolina North Carolina General Statutes Chapter 58 - Insurance Article 7 - General Domestic Companies Section 7.45 - Bylaws, Classification and Election of Directors Article 8 - Mutual Insurance Companies Section 8.5 - Manner of Amending Charter Section 8.10 - Policyholders are Members of Mutual Companies Section 8.15 - Directors in Mutual Companies Section 8.25 - Dividends to Policyholders
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North Dakota North Dakota Century Code Chapter 26.1 - Insurance Section 1.12 - Incorporated Mutual Insurance Companies		Ohio Ohio Revised Code Annotated Title XXXIX - Insurance Chapter 3941 - Operation of Mutual Insurance Companies Section 3941.02 - Organization of Domestic Mutual Company Section 3941.03 - Amendment of Articles Section 3941.05 - Legal Existence, Number and Term of Directors, Election of President Section 3941.07 - Every Policyholder a Member Section 3941.09 - Amendment of Bylaws
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Oklahoma Oklahoma Statutes Title 36 - Insurance Article 21 Section 2108 - Amendment of Articles Section 2113 - Bylaws Section 2114 - Quorum, Members of Mutual Section 2115 - Membership in Mutuals Section 2116 - Corporate Rights of Mutual Members Section 2123 - Dividends to Mutual Policyholders Section 2126 - Prohibited Interests of Officers, Directors in Certain Transactions		Oregon Oregon Revised Statutes Title 56 - Insurance Chapter 732 - Organization and Corporate Procedures of Domestic Insurers Section 732.220 - Exclusive Agency Contracts Section 732.250 - Continuation of Management in Event of National Emergency Section 732.305 - Board of Directors Section 732.325 - Certain Transaction/Compensation Prohibited Section 732.460 - Annual Report to Shareholders or Members Section 732.465 - Members of Domestic Mutual Insurers Section 732.470 - Voting Rights of Members of Mutual Insurers Section 732.475 - Members Meetings and Procedures Section 732.480 - Copies of Bylaws of Domestic Mutual Insurers
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Pennsylvania Unconsolidated Pennsylvania Statutes Title 40 - Insurance Chapter 2 - Insurance Companies Article III - Provisions Relating to Insurance Companies, Associations and Exchanges		Rhode Island General Laws of Rhode Island Title 27 - Insurance Chapter 27-1 - Domestic Insurance Companies Section 27-1-28 - Proxies, Consents and Authorizations Relative to Equity Securities
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South Carolina Code of Laws Title 38 - Insurance Chapter 19 - Domestic Mutual Insurers Article 1 - Members and Meetings Section 19.10 - Membership Section 19.40 - Notice of Annual Meeting Section 19.50 - Use of Proxies Section 19.60 - Quorum for Annual Meeting Article 3 - Operations Generally Section 19.270 - Dividends		South Dakota South Dakota Codified Laws Title 58 - Insurance Chapter 5 - Organization and General Powers of Insurers Section 27 - Membership of Policyholders in Domestic Mutual Insurer Section 39 - Bylaws of Domestic Mutual Insurer Section 40 - Meetings of Members of Domestic Mutual Insurer Section 41 - Voting Rights of Members of Domestic Mutual Insurer Section 42 - Directors of Domestic Mutual Insurers Section 43 - Officers of Domestic Mutual Insurers Section 50 - Annual Meetings Section 51 - Special Meetings Section 53 - Member Compelling Board to Call Annual Meeting Section 54 - Place for Holding Meetings of or Members Section 55 - Meetings of Stockholders of Members Section 56 - Amendment of Articles of Incorporation at Stockholder or Member Meeting Section 58 - Directors of Domestic Insurer, Management of Affairs of Insurer Section 59 - Election of Directors of Domestic Insurer Section 60 - Directors of Domestic Insurer Section 61 - Pecuniary Interest of Officer, Director, etc. Section 66 - Compensation of Officers and Employees of Domestic Insurer
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Tennessee Tennessee Code Annotated Title 56 - Insurance Chapter 19 - Mutual Insurance Companies Other than Life Section 19.106 - Amendment of Articles of Incorporation Section 19.111 - Corporate Policyholders, Officers not Personally Liable Section 19.112 - Voting Rights of Members Chapter 21 - State Mutual Fire Insurance Companies Section 21.121 - Voting Rights of Policyholders, Election of Directors, Qualification of Directors and Officers Section 21.129 - Dividends to Policyholders		Texas Texas Statutes Insurance Code Chapter 15 - Mutual Insurance Companies Other than Life Section 15.05 - Powers and Bylaws Section 15.10 - Votes of Members Chapter 16 - Farm Mutual Insurance Companies Section 16.08 - Bylaws Section 16.12 - Directors Qualification and Terms Section 16.14 - Powers of Directors Section 16.16 - Removal of Officers and Directors Chapter 17 - County Mutual Insurance Companies Section 17.12 - Directors Qualifications, Terms Section 17.13 - Charter to Prescribe Power of Directors Section 17.14 - Voting by Policyholders Section 17.15 - Meetings Chapter 21 - General Provisions Section 21.32A - Legality of Dividends Section 21.37 - Officers, Directors or Trustees, Personal Non-Liability
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Utah Utah Code Title 31A - Insurance Code Chapter 5 - Domestic Stock and Mutual Insurance Corporations Section 5.405 - Meetings of Mutuals and Mutual Policyholders' and Members' Voting Rights Section 5.407 - Board of Directors Section 5.409 - Selection and Removal of Directors Section 5.412 - Committees of Directors Section 5.415 - Officers', Directors and Employees Liability Section 5.416 - Executive Compensation Section 5.417 - Exclusive Management and Agency Contracts Section 5.420 - Payment of Dividends by Mutual Insurers		Vermont Vermont Statutes Annotated Title 8 - Banking and Insurance Part 3 - Insurance Chapter 101 - Insurance Companies Generally Subchapter 1 - Formation Section 3303 - Mutual Companies, Directors, Charter Provisions Section 3310 - Amendment of Charter Section 3311 - Quorum Section 3313 - Proxies
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Virginia Code of Virginia Title 38.2 - Insurance Chapter 2 - Provisions of a General Name Section 203 - Management and Exclusive Agency Contracts Section 211 - Other Interests and Payments to Officers and Directors Section 230 - Distributions by Non-Stock Corporation Chapter 10 - Organization, Admission and Licensing Section 1002 - Additional Requirements for Articles of Incorporation Section 1004 - Voting Chapter 25 - Mutual Assessment Property/Casualty Insurers Section 2509 - Director's, Terms, Annual Meetings, Voting, Executive Committee Section 2510 - Officers		Washington Revised Code of Washington Title 48 - Insurance Chapter 48.07 - Domestic Insurers, Powers Section .040 - Annual, Special Meetings Section .050 - Directors, Qualifications and Removal Section .070 - Amendment to Articles of Incorporation Section .170 - Continuation in Event of National Emergency (Emergency Bylaws) Section .180 - Continuation in Event of National Emergency (Directors) Section .190 - Continuation in Event of National Emergency (Officers) Chapter 48.09 - Mutual Insurers Section .110 - Membership Section .120 - Rights of Members Section .130 - Bylaws Section .140 - Notice of Annual Meeting Section .150 - Proxies Section .160 - Directors Section .300 - Dividends
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West Virginia West Virginia Code Chapter 33 - Insurance Article 5 - Organization and Procedures for Stock and Mutual Insurers Section 5.9 - Mutual Bylaws Section 5.10 - Mutual Quorum Section 5.11 - Mutual Membership Section 5.12 - Corporate Rights of Mutual Members Section 5.18 - Dividends to Mutual Members Section 5.19 - Illegal Dividends, Liabilities and Penalties Section 5.21 - Management and Exclusive Agency Contracts Section 5.31 - Proxies, Consents and Authorizations		Wisconsin Wisconsin Statutes Annotated Chapter 611 - Domestic Stock and Mutual Insurers Section 611.07 - General Corporate Powers and Procedures Section 611.29 - Amendment of Articles of Incorporation Section 611.41 - Communication to Shareholders and Policyholders Section 611.42 - Mutual Policyholder Voting Rights Chapter 612 - Town Mutuals Section 612.04 - Amendment of Articles, Bylaws and Business Plan Section 612.10 - Membership Section 612.11 - Meetings of Members Section 612.12 - Voting Rights of Members Section 612.13 - Directors and Officers Section 612.16 - Exclusive Agency and Management Contracts
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Wyoming Wyoming Statutes Title 26 - Insurance Code Chapter 24 - Organization and Corporate Procedures of Legal Reserve Stock and Mutual Insurers Section 106 - Articles of Incorporation, Amendment by Mutual Insurers Section 115 - Membership in Mutuals Section 116 - Bylaws of Mutuals Section 117 - Meetings of Members of Mutual Insurers, Location and Annual Meeting Section 118 - Meetings of Members of Mutual Insurers, Special Meetings Section 119 - Voting Rights of Members of Mutual Insurers Section 121 - Board of Directors Section 122 - Notice of Changes of Officers and Directors Sections (123-126) - Emergency Management Considerations Section 127 - Pecuniary Interests of Officers and Directors Prohibited Section 128 - Management and Exclusive Agency Contracts Section 134 - Dividends to Policyholders of Mutual Insurer
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Posted: Wednesday, April 07, 2004 12:00:00 AM. Modified: Friday, September 23, 2005 4:16:42 PM.

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We are 1,400 property/casualty insurance companies serving more than 135 million auto, home and business policyholders, with more than $196 billion in premiums accounting for 50 percent of the automobile/homeowners market and 31 percent of the business insurance market. We are the largest and most diverse property/casualty trade association in the country, with regional and local mutual insurance companies on main streets across America joining many of the country’s largest national insurers who also call NAMIC their home. More than 200,000 people are employed by NAMIC members.