Code of Alabama
Chapter 30 - Mutual Aid Associations.
Section 27-30-30 - Directors or Trustees.

(a) The affairs of every domestic mutual aid association shall be governed by a board of directors or board of trustees consisting of not less than seven members, each of whom must be a member or stockholder of the corporation.
(b) Directors shall be elected by the members or stockholders of the association at the annual meeting of stockholders or members. Directors may be elected for terms of not less than one nor more than five years each and until their successors are elected and have qualified, as provided in the association's bylaws. If to be elected for terms of more than one year, the bylaws shall provide for a staggered term system under which the terms of a proportionate part of the members of the board will expire on the date of each annual meeting of members or stockholders.
(c) A majority of the directors or trustees must at all times be residents of this state.

Structure Code of Alabama

Code of Alabama

Title 27 - Insurance.

Chapter 30 - Mutual Aid Associations.

Section 27-30-1 - "Mutual Aid Association" Defined.

Section 27-30-2 - Applicability of Chapter - Generally.

Section 27-30-3 - Applicability of Chapter - Exceptions.

Section 27-30-4 - Authorization to Act As, or For, Association - Generally.

Section 27-30-5 - Authorization to Act As, or For, Association - Requirements.

Section 27-30-6 - Capital Stock or Surplus Requirements for Existing Associations.

Section 27-30-6.1 - Authority to Increase Paid-in Capital Stock and Paid-in Surplus; Contracts or Policies on Any One Life and Accidental Death Benefits.

Section 27-30-7 - Name of Association.

Section 27-30-8 - Certificate of Authority - Application.

Section 27-30-9 - Certificate of Authority - Issuance or Refusal.

Section 27-30-10 - Certificate of Authority - Expiration; Renewal.

Section 27-30-11 - Certificate of Authority - Suspension or Revocation - Grounds.

Section 27-30-12 - Certificate of Authority - Suspension or Revocation - Procedure.

Section 27-30-13 - Commissioner as Agent for Process; Service of Process; Notice of Change of Address.

Section 27-30-14 - Contracts - Issuance; Contents; Approval by Commissioner.

Section 27-30-15 - Contracts - Limits of Risk.

Section 27-30-16 - Contracts - Annual Valuation - Benefits Payable in Cash.

Section 27-30-17 - Contracts - Annual Valuation - Benefits, Aid, or Services Other Than Cash.

Section 27-30-18 - Deposit - Amounts; Purpose; Kind.

Section 27-30-19 - Deposit - Administration.

Section 27-30-20 - Funds of Association.

Section 27-30-21 - Accounts and Records.

Section 27-30-22 - Annual Statement; Furnishing of Other Information.

Section 27-30-23 - Duty of Officers and Agents.

Section 27-30-24 - Examinations by Commissioner.

Section 27-30-25 - Exemption of Resident Members', etc., Interest From Process.

Section 27-30-26 - Incorporation and Financing of New Associations.

Section 27-30-27 - Qualification of Corporation for Original Certificate of Authority.

Section 27-30-28 - Increase or Decrease of Capital Stock.

Section 27-30-29 - Membership; Meetings of Members; Voting Rights.

Section 27-30-30 - Directors or Trustees.

Section 27-30-32 - Applicability of Chapters 7 and 8a.

Section 27-30-33 - Applicability of Other Provisions.

Section 27-30-34 - Provision of Domestic Life and Disability Insurance Pursuant to Chapter 3.