58-5-3. "Mutual" insurer defined.
27 words·~1 min read·
/sd/title-58/chapter-58-5/58-5-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A "mutual" insurer is an insurance corporation without capital stock, owned by its policyholders collectively, who have the right to vote in the election of its directors.