Membership of policyholders in domestic mutual insurer--Reinsurance contract excepted.

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  5. Membership of policyholders in domestic mutual insurer--Reinsurance contract excepted.

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58-5-27. Membership of policyholders in domestic mutual insurer--Reinsurance contract excepted.

Each policyholder of a domestic mutual insurer, other than of a reinsurance contract, is a member of the insurer with all rights and obligations of such membership, and the policy shall so specify.

Source: SL 1966, ch 111, ch 16, §15 (1).


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