26-24-126. Emergency succession of officers; change of home office location.
(a) The board of directors of a domestic insurer, by resolution, may provide that:
(i) In case of a national emergency and in case of the death or incapacity of the president, the secretary or the treasurer of the insurer, that officer, or any of them, shall be succeeded in the office by the person named or described in a succession list adopted by the board of directors which:
(A) May be on the basis of named persons or position titles;
(B) Shall establish the order of priority; and
(C) May prescribe the conditions under which the powers of the office shall be exercised.
(ii) In case of a national emergency the insurer's home office or principal place of business shall be at a location specified in the resolution, except that the resolution may provide for alternate locations and establish an order of preference.
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