17B:18-33 - National emergency;Ā succession
17B:18-33.Ā National emergency;Ā succession
At any time the board of directors of a domestic insurer may, by resolution,Ā provide that in the event of such a national emergency and in the event of theĀ death or incapacity of the Chairman of the Board and chief executive officer,Ā the President, the Secretary or the Treasurer of the company, such officers, orĀ any of them, shall be succeeded in the office by the person named or describedĀ in a succession list adopted by the board of directors.Ā Such list may be onĀ the basis of named persons or position titles, shall establish the order ofĀ priority and may prescribe the conditions under which the powers of the officeĀ shall be exercised.
L.1971, c. 144, s. 17B:18-33.
Ā
At any time the board of directors of a domestic insurer may, by resolution,Ā provide that in the event of such a national emergency and in the event of theĀ death or incapacity of the Chairman of the Board and chief executive officer,Ā the President, the Secretary or the Treasurer of the company, such officers, orĀ any of them, shall be succeeded in the office by the person named or describedĀ in a succession list adopted by the board of directors.Ā Such list may be onĀ the basis of named persons or position titles, shall establish the order ofĀ priority and may prescribe the conditions under which the powers of the officeĀ shall be exercised.
L.1971, c. 144, s. 17B:18-33.
Ā