| (a) Minutes shall be kept and preserved of all meetings of the membership, and of all meetings of the board of directors. Whenever action is taken at any such meeting upon any matters hereinafter set out, the complete minutes relating to such action, duly verified as required by law shall be promptly filed, in duplicate, with the commissioner of insurance. One authenticated copy of such minutes shall be returned to the company or association and it shall be maintained in the permanent records thereof. Any action pertaining to any of the following matters affecting the operation of a company or association are subject to this section: (1) election of officers or directors and the designation of, or a change in the designation of, the officer or other person or persons responsible for the handling of the funds of the company or association; (2) mergers; (3) reinsurance agreements; (4) amendments
to the constitution and bylaws; (5) amendments to the articles of association or articles of incorporation; (6) any change or modification in the rates to be charged on policies then in force; (7) dissolution of the company or association; and (8) the execution, transfer, assignment or change in any contract of management, employment, or general agency. (b) The commissioner of insurance may require other minutes to be filed when he deems it necessary. The filing of any minutes shall not constitute approval by the commissioner of insurance of the action taken as reflected in such minutes.
|
