California Insurance Code 4018 – No member’s vote upon any proposal to divest the insurer of its …
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No member’s vote upon any proposal to divest the insurer of its business or assets, or the major part thereof, shall be registered or taken except in person or by proxy newly executed and specific as to the matter to be voted upon.
(Added by Stats. 1963, Ch. 1772.)
Terms Used In California Insurance Code 4018
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19