17B:18-10. Election of directors of mutual insurer pursuant to provision in certificate of incorporation
88 words·~1 min read·
/nj/title-17b/chapter-18/17b-18-10·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If the certificate of incorporation or charter of a mutual insurer, or any amendment thereto contains provisions for the election of directors in the manner set forth in sections 17B:18-11 to 17B:18-17, inclusive, as provided in section 17B:18-7, then, subject to the provisions of section 17B:18-18, the directors of any such insurer shall be elected in such manner and no other. Each director elected and qualified pursuant to such sections shall hold office until his successor shall have been duly elected and qualified.
L.1971, c. 144, s. 17B:18-10.