Stock Insurance Company Law and Legal Definition
Stock insurance company is an incorporated insurance company in which the initial capital investment is made by subscribers to the stock, and the business is thereafter conducted by a board of directors elected by the stockholders, and, subject to state statutes, the distribution of earnings and profits as between stockholders and policy holders is determined by the board.
In a stock insurance company, the shareholders contribute all the capital, share all the losses, and divide all the profits. [State v. Willett, 171 Ind. 296, 301 (Ind. 1908)]
Legal Definition list
Related Legal Terms
- 19c3 Stock
- Accelerated Life Insurance Benefits
- Accident Insurance
- Accidental Death and Dismemberment [Insurance]
- Accommodation Line [Insurance]
- Accompanying Relative [Immigration]
- Accompanying Spouse and Dependents
- Accompanying the Armed Forces outside the United States
- Accompanying the Federal Government Outside the United States
- Accompanying Visa
