{"data":{"id":"us-la/rs-22-120","jurisdiction":"us-la","citation":"RS 22:120","heading":"Elections of officers and directors","body":"Election of officers and directors shall be made in the manner specified in the charter or bylaws of the insurer, provided that:\n(1) Each policyholder shall be entitled to one vote in accordance with the provisions of R.S. 22:119;\n(2) At least a majority of the directors shall be policyholders of the insurer;\n(3) Each director, before being qualified to act, shall file with the secretary of the company a written acceptance of his trust;\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(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(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(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.","path":["SUBPART C-1. PHARMACY BENEFIT MANAGERS§1863. Definitions"],"source_url":"https://www.legis.la.gov/legis/Law.aspx?d=506311","current_through":"2025 First Extraordinary Session","vintage":"","retrieved_at":"2026-09-14T04:53:54Z","sha256":"391e4fd911e86c2f74cbaef2ceae4b4f3eeb021027ddf393f72e70018d9e07e6","source_id":"us-la","stale":false,"prev":"us-la/rs-22-119","next":"us-la/rs-22-121"},"notice":"GroundRules: Original legal text. Not legal advice."}