{
  "urn": "urn:us-la:rs:22:120",
  "title_number": "22",
  "section_number": "120",
  "citation": "R.S. 22:120",
  "heading": "Elections of officers and directors",
  "text": "Election of officers and directors shall be made in the manner specified in the charter or bylaws of the insurer, provided that:\n\n(1) Each policyholder shall be entitled to one vote in accordance with the provisions of R.S. 22:119;\n\n(2) At least a majority of the directors shall be policyholders of the insurer;\n\n(3) Each director, before being qualified to act, shall file with the secretary of the company a written acceptance of his trust;\n\n(4) Vacancies in the board of directors are to be filled by the directors or the policyholders as the charter or bylaws of the insurer may provide;\n\n(5) Directors may call special meetings of the policyholders whenever they deem it proper and must call such a meeting upon the written application of the owners of one-tenth of the amount of insurance in force as of the preceding December thirty-first report of the insurer;\n\n(6) The board of directors shall meet at least six times a year and as often as may be required in the bylaws of the company;\n\n(7) The directors shall annually elect a president, who shall be a member of the board, a secretary, and such other officers as the charter or bylaws may provide. However, the directors of a risk retention insurer to which the laws of this Subpart apply shall annually elect from the nonpolicy holder directors a president, a secretary, and such other officers as the charter or bylaws may provide.",
  "status": "active",
  "hierarchy_path": [
    {
      "level": "title",
      "number": "22",
      "name": "INSURANCE CODE"
    },
    {
      "level": "chapter",
      "number": "2",
      "name": "REQUIREMENTS FOR INSURERS AND OTHER RISK BEARING ENTITIES"
    },
    {
      "level": "part",
      "number": "I",
      "name": "KINDS OF INSURERS"
    },
    {
      "level": "subpart",
      "number": "C",
      "name": "DOMESTIC MUTUAL INSURERS"
    }
  ],
  "breadcrumb": "Title 22 › Chapter 2 › Part I › Subpart C",
  "acts_citations": [
    {
      "act_year": 1958,
      "act_number": 125,
      "section": null,
      "effective_date": null,
      "effective_date_raw": null,
      "role": "enactment"
    },
    {
      "act_year": 1964,
      "act_number": 134,
      "section": 1,
      "effective_date": null,
      "effective_date_raw": null,
      "role": "amendment"
    },
    {
      "act_year": 1989,
      "act_number": 689,
      "section": 1,
      "effective_date": null,
      "effective_date_raw": null,
      "role": "amendment"
    },
    {
      "act_year": 2009,
      "act_number": 503,
      "section": 1,
      "effective_date": null,
      "effective_date_raw": null,
      "role": "amendment"
    }
  ],
  "acts_citations_raw": "Acts 1958, No. 125. Amended by Acts 1964, No. 134, §1; Acts 1989, No. 689, §1; Redesignated from R.S. 22:128 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 503, §1.",
  "source_url": "https://legis.la.gov/legis/Law.aspx?d=506311",
  "website_law_id": 506311,
  "scrape_timestamp": "2026-05-22T22:11:37Z",
  "source_html_hash": "sha256:eb614e64790f6591aa50d6630590a8b7feef9a5936a424a174b2b805ca135fa4",
  "schema_version": "1.0.0"
}