Kentucky Statutes 299.350 – Annual meeting — Votes — Bylaws — Books
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(1) The regular meeting of the company shall be held as prescribed in the bylaws, and if not otherwise provided for shall be held on the second Tuesday of January each year. At this meeting each person insured shall have one (1) vote, and those having two thousand dollars ($2,000) insurance two (2) votes, and an additional vote for each additional one thousand dollars ($1,000) insurance, or each policyholder shall be entitled to only one (1) vote where the bylaws so provide. Voting may be by proxy under the rules and regulations prescribed by bylaws, unless prohibited by the bylaws.
(2) Every company may make and enforce bylaws not inconsistent with the laws of this state or of the United States, by a two-thirds (2/3) vote of the directors at any meeting. Any amendment may be made to the bylaws if presented to the president thirty (30) days before any meeting.
(3) The directors shall procure proper books in which the secretary shall keep a record of all transactions of the company and of the board of directors. The books shall show at all times the condition, affairs and business of the company, and shall be open for the inspection of members of the company on any day from 9 a.m. until 4 p.m., Sundays and legal holidays excepted.
Effective: September 1, 1950
History: Amended 1950 Ky. Acts ch. 21, sec. 29, effective September 1, 1950. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 705, 714, 718.
(2) Every company may make and enforce bylaws not inconsistent with the laws of this state or of the United States, by a two-thirds (2/3) vote of the directors at any meeting. Any amendment may be made to the bylaws if presented to the president thirty (30) days before any meeting.
Terms Used In Kentucky Statutes 299.350
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Year: means calendar year. See Kentucky Statutes 446.010
(3) The directors shall procure proper books in which the secretary shall keep a record of all transactions of the company and of the board of directors. The books shall show at all times the condition, affairs and business of the company, and shall be open for the inspection of members of the company on any day from 9 a.m. until 4 p.m., Sundays and legal holidays excepted.
Effective: September 1, 1950
History: Amended 1950 Ky. Acts ch. 21, sec. 29, effective September 1, 1950. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 705, 714, 718.