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New Mexico Statutes Chapter 59A. Insurance Code § 59A-34-25. Mutual members, corporate rights

Current as of January 01, 2024 | Updated by Findlaw Staff

A. As to management, records and affairs of the insurer a member of a domestic mutual insurer shall have the same character of rights and relationship as a stockholder has toward a domestic stock insurer.

B. Subsection A above shall not be deemed to:

(1) subject the mutual insurer to requirements of Sections 560 (information to stockholders and proxy regulations), 561 (information in advance of stockholder meetings) or 562 (solicitation of proxies) of this article; or

(2) give mutual members the right of dissent and appraisal on any merger, consolidation, bulk reinsurance, or sale of assets of the insurer.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 59A. Insurance Code § 59A-34-25. Mutual members, corporate rights - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-59a-insurance-code/nm-st-sect-59a-34-25/

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