31A-5-104. General corporate powers and procedures.
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31A-5-104. General corporate powers and procedures.
(a)Subject to other provisions of this code, Section 16-10a-302 applies to stock and mutual insurance corporations.
(b)Subject to other specific provisions of this title, a domestic insurance corporation may participate in any activity permitted as a promoter, partner, member, associate, or manager of any partnership, joint venture, trust, or other enterprise.
(2)Subsections 16-10a-303(2)(a) and
(b)apply to stock corporations, and Section 16-10a-622 applies to mutuals.
(3)Whenever a seal is required on a corporate document, writing or printing the word "Seal" constitutes a valid seal.
(4)In waiving notice and in informal actions by shareholders, members, or directors, Sections 16-10a-704 , 16-10a-706 , and 16-10a-823 apply to stock corporations, and Sections 16-6a-705 and 16-6a-707 apply to mutuals.
(5)A life insurance corporation may hold assets under Section 31A-22-410 as general corporate assets or as trustee.
Amended by Chapter 300 , 2000 General Session