Proposed amendments to the articles of incorporation of a mutual insurance holding company may be adopted at any members meeting. The board of directors of a mutual insurance holding company shall provide notice of any members meeting conducting a vote on the adoption of the amendment to the articles of incorporation by publication in a newspaper of general circulation, published in the county where the companys principle place of business is located, at least 30 days prior to the members meeting. Where the amendment is not inconsistent with the Constitution and laws of the State of West Virginia and of the United States, the amendment may be adopted by the affirmative vote of at least three-fifths of the members present and voting at the meeting.
Structure West Virginia Code
Article 27A. West Virginia Mutual to Mutual Insurance Holding Company Act
§33-27A-4. Voting Rights of Mutual Policyholders Regarding Reorganization; Notice of Public Hearing
§33-27A-5. Review of Plan by Insurance Commissioner; Filing Requirements
§33-27A-6. Amending Articles of Incorporation of Mutual Holding Company
§33-27A-7. Corporate Existence of Mutual Company Continue in Recognized Stock Company
§33-27A-8. Payment of Costs and Expenses of Reorganization
§33-27A-9. Reorganization of Mutual Company
§33-27A-10. Membership Interest in Mutual Company
§33-27A-11. Applicability of Other Laws
§33-27A-12. Holding Company Treated as Insurer