40-1004. Directors; election; vacancy. In companies organized under the provisions of this article, the number of directors shall not be more than 25 or less than five. Unless written balloting 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 policyholder may vote by proxy, signed by the person legally entitled to vote such proxy. A majority of the board of directors shall be a quorum for the transaction of business. Vacancies in the board shall be filled by the remaining members until the next annual meeting.
History: L. 1927, ch. 231, 40-1004; L. 2007, ch. 30, ยง 2; July 1.
Structure Kansas Statutes
Article 10 - Mutual Fire And Tornado Companies
40-1002 Classification of insurable property.
40-1003 No policy issued until required application, premium notes and securities received.
40-1004 Directors; election; vacancy.
40-1005 Annual meeting of members; proxies.
40-1006 Officers; election; term.
40-1008 Liability for losses; assessments; indebtedness.
40-1009 Recovery of assessments or on notes; cash policies not assessable.
40-1011 Property to be assessed and taxed.
40-1013 Classification of risks.
40-1015 Withdrawal of member of company; return premium; cancellation of policy, notice.
40-1016 Limitation on amount of risk; reinsurance.
40-1017 Execution and contents of policy.
40-1019 Statement for annual meeting.
40-1020 Other corporations as members of company; vote.
40-1022 Creation and investment of such fund; liability.
40-1023 Scope of insurance by companies having guarantee fund; foreign companies.
40-1024 Cash or notes in payment of premiums; liability of members of company.
40-1025 Notice of creation of guarantee fund; examination; certificate of authority.
40-1026 Reinsurance of risks; assessment.
40-1027 Mutual fire and tornado companies; paid-up capital and surplus requirements.
40-1028 Consolidation of business into one class; vote of directors.
40-1029 Advances of money and issuance of certificates of indebtedness.