California Insurance Code

§ 688.2

INS § 688.2Div. 1 · Part 2 · Ch. 1 · Art. 1.7

Statute text

In the event that the board of directors of a domestic insurer has not adopted emergency bylaws, the following provisions shall become effective upon the occurrence of such a national emergency:

(1)Three directors shall constitute a quorum for the transaction of business at all meetings of the board.

(2)Any vacancy in the board may be filled by a majority of the remaining directors, though less than a quorum, or by a sole remaining director.

…

Legislative history

Added by Stats. 1963, Ch. 1285.