(a) The board of directors of a mutual life insurance company shall elect the following officers for the company:
(1) a president;
(2) the number of vice presidents as required by the company’s bylaws;
(3) a secretary;
(4) a treasurer;
(5) a medical director; and
(6) other officers as required by the company’s bylaws.
(b) The board shall establish the compensation of each officer.

Ask an insurance law question, get an answer ASAP!
Click here to chat with a lawyer about your rights.