A. Every corporation organized in accordance with the provisions of Article 26 of the Insurance Code shall have such officers with such titles and duties as shall be stated in the bylaws or in a resolution of the board of directors which is not inconsistent with the bylaws.
B. The corporation may secure the fidelity of any or all of its officers or agents by bond or otherwise.
C. A failure to elect officers shall not dissolve or otherwise affect the corporation.
Added by Laws 1988, c. 227, § 7, emerg. eff. June 20, 1988.