33-16-6. Board of directors generally.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

In companies organized under this chapter, the number of directors shall be not less than three. A majority of the board of directors shall be a quorum for the transaction of business. No person shall be or act as a director of the insurer who does not have insurance in force in the insurer.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1933, § 56-2013, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 2012, p. 1040, § 1/SB 203; Ga. L. 2019, p. 337, § 1-78/SB 132. The 2019 amendment, effective July 1, 2019, deleted ‘‘currently effective’’ following ‘‘who does not have’’ in the last sentence of this Code section.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t33-ch1-22-(v24)-2020-pdf.pdf, Volume V24, 2020 edition, page 759; merge action: carried; file SHA-256 4ecec175d949.

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