17:21-3. Election of directors of benefit companies
69 words·~1 min read·
/nj/title-17/chapter-21/17-21-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
All elections of directors of any stock insurance company of this state incorporated by special charter, whose object is to assist its sick or needy members, or aid in defraying funeral expenses of deceased members and make provision for their families, shall be by the stockholders of the company, and no policyholder or person insured in the company may vote at an election unless he is also a stockholder.