299.100 Annual meeting -- Adoption and amendment of bylaws -- Examination of
283 words·~1 min read·
/ky/299-100A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
books.
(1)Every company shall hold, within the county in which its principal office is located
in this state, a stated annual meeting of its members or policyholders, or
representatives of local boards or subordinate bodies, in the manner and subject to
the regulations, restrictions and provisions that its constitution and bylaws provide.
(2)Every company authorized to do business in this state may, at any stated annual
meeting of its members or policyholders, adopt or amend its bylaws, rules and
regulations. If the board of directors determines that an emergency has arisen
requiring the adoption or amendment of any bylaw, rule or regulation before the
next ensuing stated annual meeting, the board shall mail a copy of the bylaw, rule or
regulation to the members and directors of the company, together with a notice of
the time and place when the same will be considered, which notice shall be the
same as required for a stated meeting. The bylaws, rules, regulations and
amendments thereto adopted from time to time at the stated annual meeting, or at
any meeting made necessary by an emergency, shall be binding on all members and
policyholders of the company, whether or not personally present at the meeting
when the same were adopted.
(3)The books and papers of each company shall at all times be open for examination
by the commissioner, and shall be open for examination by a committee of
members or policyholders duly selected, authorized and empowered for that
purpose by a writing signed by a majority of the members or policyholders of the
company, which written authority shall be presented to and filed with the company
before any examination is made by the committee.