1. With the approval of the superintendent, any domestic organization may, at any time, adopt, in the same manner as in the
case of ordinary bylaws, emergency bylaws to become operative during a period of acute emergency. Emergency bylaws may contain
provisions with respect to the number of directors capable of acting which shall constitute its board, the number of such
directors which shall constitute a quorum at a meeting of the board, the number of votes necessary for action by such board,
the manner in which vacancies on the board shall be filled, the line of succession of its officers, and the interim management
of the affairs of the insurance organization; such provisions, if approved by the superintendent, need not comply with the
requirement of the charter of such domestic organization or of the insurance or incorporation laws of this State.
[
1973, c. 585, §12 (AMD)
.]
2. Section 3554 and section 3555, subsections 2 to 6 shall not be applicable during a period of acute emergency to any domestic
organization operating in accordance with and under emergency bylaws theretofore approved by the superintendent.
[
1973, c. 585, §12 (AMD)
.]
SECTION HISTORY
1969, c. 132, §1 (NEW).
1973, c. 585, §12 (AMD).
Data for this page extracted on 11/09/2009 11:20:25.