1. MCA Contents
  2. TITLE 33
  3. CHAPTER 3
  4. Part 1
  5. 33-3-102 Definitions

TITLE 33. INSURANCE AND INSURANCE COMPANIES

CHAPTER 3. DOMESTIC STOCK AND MUTUAL INSURERS

Part 1. General Provisions

Definitions

33-3-102. Definitions. (1) A "domestic mutual insurer" is an incorporated insurer without capital stock, and the governing body of which is elected by the policyholders.

(2) A "domestic stock insurer" is an incorporated insurer with capital divided into shares and owned by its stockholders.

History: En. Secs. 419, 420, Ch. 286, L. 1959; R.C.M. 1947, 40-4702, 40-4703.