New York Laws
Article 42 - Life Insurance Companies and Accident and Health Insurance Companies and Legal Services Insurance Companies
4211 - Election of Directors of Domestic Stock Life Insurance Companies.

(b) Whenever any directors of such a company shall have resigned and
successors shall have been chosen pursuant to the provisions of the
by-laws, such successors shall not take office nor exercise their duties
until ten days after written notice of their election shall have been
filed in the office of the superintendent.
(c) Policyholders of such an insurance company shall be eligible for
election as directors or officers, whether or not they are shareholders.

Structure New York Laws