South Carolina Code 38-19-60. Quorum for conduct of business at annual meeting; form and approval of voting proxies
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 38-19-60
- Insurer: includes a corporation, fraternal organization, burial association, other association, partnership, society, order, individual, or aggregation of individuals engaging or proposing or attempting to engage as principals in any kind of insurance or surety business, including the exchanging of reciprocal or interinsurance contracts between individuals, partnerships, and corporations. See South Carolina Code 38-1-20
- Person: means a corporation, agency, partnership, association, voluntary organization, individual, or another entity, organization, or aggregation of individuals. See South Carolina Code 38-1-20
- Quorum: The number of legislators that must be present to do business.
At any annual meeting of a domestic mutual insurer all business including the election of directors must be conducted pursuant to majority vote of those members present and voting either in person or by proxy of nonpresent members as provided in § 38-19-50. No other quorum requirements may limit the conduct of this business.