In any meeting of members of a domestic mutual insurer writing classes of insurance which include life or disability insurance, the presence in person or by proxy or written vote of 5 percent of the members entitled to vote shall constitute a quorum for the transaction of business unless a higher percentage is required by this code or by the by-laws or articles of incorporation of the insurer.
Cal. Ins. Code § 10440
Regulation of Internal Affairs of Mutual Insurers
Known as the Health Insurance Disclosure Act
The act spans §§ 10110–11549 (1,209 sections).
Added by Stats. 1957, Ch. 425.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.