LegalFix
Sign In

Section 17:37-9 - Vice president; election; acting as president

NJ Rev Stat § 17:37-9 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

17:37-9. Vice president; election; acting as president

Any mutual fire insurance company, organized under the laws of this state, may choose from its board of directors, at the time of its annual election, in the same manner as its president is elected, one vice president, who may, in case of the death or disability of the president, sign policies and perform all other acts which devolve upon the office of president, during the continuance of the disability, or until the election of a new president by the company, or as provided by its by-laws.

Previous Section
Section 17:37-8 - Assessments required when liabilities of mutual fire insurer exceed assets
Next Section
Section 17:37-10 - Tenure of directors of certain companies; cash payments