The bylaws shall provide that each policyholder of the company shall be a member of the company and shall be entitled to one or more votes based upon the amount of insurance in force, the number of policies held, or the amount of premium paid, as shall be stated in such bylaws. The bylaws may permit voting by proxy.
Source: L. 91: Entire part added, p. 1220, § 1, effective May 24.
Structure Colorado Code
Part 4 - Mutual Insurance Companies
§ 10-12-401. Legislative Declaration
§ 10-12-402. Scope of Provisions
§ 10-12-403. Mutual Insurer Defined
§ 10-12-405. Applicability of Other Code and Corporation Code Provisions
§ 10-12-406. Lines of Business
§ 10-12-408. Liability of Members
§ 10-12-410. Insolvency or Impairment of Mutual Insurance Company
§ 10-12-411. Conversion of Domestic Mutual Insurer to Domestic Stock or Other Form of Insurer