South Dakota Codified Laws 58-5-40. Meetings of members of domestic mutual insurer–Time, notice, quorum, and conduct
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The bylaws of a domestic mutual insurer shall provide the time, notice, quorum, and conduct of annual and special meetings of members. In no event shall a quorum at any meeting of members be less than five percent of the total membership.
Terms Used In South Dakota Codified Laws 58-5-40
- Quorum: The number of legislators that must be present to do business.
Source: SL 1966, ch 111, ch 16, § 16 (2) (c), (3); SL 1968, ch 135; SL 1973, ch 297.