40-1004. Directors; election; vacancy. - Kansas Statutes

40-1004

Chapter 40.--INSURANCE Article 10.--MUTUAL FIRE AND TORNADO COMPANIES

      40-1004.   Directors; election; vacancy.In companies organized under the provisions of this article, the numberof directors shall not be more than 25 or less thanfive. Unless writtenballoting is required by the bylaws, directors shall be elected by voice vote.Each person who is a policyholder shall be entitled to one vote. A policyholdermay vote by proxy, signed by the person legally entitled to vote suchproxy. A majority of theboard of directors shall be a quorum for the transaction of business.Vacancies in the board shall be filled by the remaining members until thenext annual meeting.

      History:   L. 1927, ch. 231, 40-1004;L. 2007, ch. 30, § 2; July 1.