TITLE 41

INSURANCE

CHAPTER 28

ORGANIZATION AND CORPORATE PROCEDURES OF STOCK AND MUTUAL INSURERS

41-2831.  Rights of mutual members in general. (1) A domestic mutual insurer is owned by and shall be operated in the interest of its members.

(2)  With respect to the management, records and affairs of the insurer, a member of a mutual insurer shall have the same character of rights and relationship as a stockholder has toward a domestic stock insurer, subject to the provisions of this code.

History:

[41-2831, added 1961, ch. 330, sec. 599, p. 645.]