Directors; election; vacancy

40-1004. Directors; election; vacancy. In companies organized under the provisions of this article, the number of directors shall not be more than 25 or less than five. Unless written balloting is required by the bylaws, directors shall be elected by voice vote. Each person who is a policyholder shall be entitled to one vote. A policyholder may vote by proxy, signed by the person legally entitled to vote such proxy. A majority of the board of directors shall be a quorum for the transaction of business. Vacancies in the board shall be filled by the remaining members until the next annual meeting. History: L. 1927, ch. 231, 40-1004; L. 2007, ch. 30, § 2; July 1. Source or prior law: L. 1875, ch. 111, § 8; L. 1885, ch. 132, § 6; R.S. 1923, 40-427. CASE ANNOTATIONS 1. Members of mutual fire insurance companies elect their officers. Kennedy v. Farmers Alliance Ins. Co., 127 Kan. 768, 770, 275 P. 214. 2. Mentioned; agent's knowledge did not bind insurance company. Lallak v. Farmers' Mutual Ins. Co., 174 Kan. 720, 721, 722, 723, 257 P.2d 933. Previous | Next LEGISLATIVE COORDINATING COUNCIL General Policies 2026 Archived LCC Documents Archived LCC Meetings REVISOR OF STATUTES Archived Session Documents Archived School Finance Documents USEFUL LINKS Session Laws Kansas Administrative Regulations OTHER LEGISLATIVE SITES Kansas Legislature Administrative Services Division of Post Audit Research Department Contact Us PDF Help www.ksrevisor.gov 2026