At any annual meeting of a domestic mutual insurer all business including the election of directors must be conducted pursuant to majority vote of those members present and voting either in person or by proxy of nonpresent members as provided in Section 38-19-50. No other quorum requirements may limit the conduct of this business.
S.C. Code Ann. § 38-19-60
Quorum for conduct of business at annual meeting; form and approval of voting proxies
Former 1976 Code SECTION 38-19-60 [1962 Code SECTION 37-825; 1971 (57) 1001; 1976 Act No. 666] recodified as SECTION 38-31-60 by 1987 Act No. 155, SECTION 1; Former 1976 Code SE…
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.