§ 4210. Election of directors of domestic mutual life insurance\ncompanies. (a) (1) The directors of every domestic mutual life insurance\ncompany shall be elected in the manner and subject to the regulations\nprescribed in this section.\n (2) Every such company shall, in accordance with its charter, either\nelect its entire board of directors biennially, or divide its board of\ndirectors into not more than three classes, as nearly equal as may be,\nin which case the members of one class only shall be elected annually.\n (3) In this section:\n (A) "Policyholder" means the person insured under an individual policy\nof life insurance or of accident and health insurance issued upon the\napplication of such person, the person who effectuates any such policy\nupon the person of another pursuant to subsection (c) of section three\nthousand two hundred five of this chapter, the person to whom any\nannuity or pure endowment is presently or prospectively payable by the\nterms of an individual annuity or a pure endowment contract, except\nwhere the policy or contract declares some other person to be the owner\nor holder thereof, in which case such owner or policyholder shall be\ndeemed the policyholder, and except in cases of assignment as\nhereinafter provided. In the case of any such individual policy or\ncontract insuring two or more persons jointly the persons insured, or,\nif any such policy be issued upon the application of some third person\nor persons, the person or persons who effectuated any such policy\npursuant to subsection (c) of section three thousand two hundred five of\nthis chapter shall be deemed one policyholder within the meaning of this\nsection. In case any such policy or contract shall have been assigned by\nan assignment absolute on its face, to an assignee other than the\ncompany which shall have issued such policy, and in case the signature\nof such assignee, either attested by the assignor or acknowledged by the\nassignee, shall have been more than six months prior to any election\nhereinafter referred to, filed at the principal office of such company,\nthen such assignee shall be deemed a policyholder within the meaning of\nthis section. In the case of every policy or contract of group insurance\nor group annuity contract, issued by such company, the employer, or\nother person, firm, corporation or association to whom or in whose name\nthe master policy shall have been issued and held, shall be deemed one\npolicyholder within the meaning of this section. Whenever in this\nsection reference is made to a policy of life insurance for one thousand\ndollars or more, such reference shall be deemed to include, as\nequivalent thereto, an annuity contract which at normal date of maturity\nrequires the payment of one hundred dollars or more annually, and a pure\nendowment contract for the principal sum of one thousand dollars or\nmore.\n (B) "Acknowledged", when used in reference to any instrument or\nsignature, shall have the same meaning which it has in reference to\nconveyances of real property eligible for recording under section two\nhundred ninety-one of the real property law.\n (b) (1) Every participating policyholder of such company and every\npolicyholder of such company whose policy or contract is a\nnon-participating policy or contract described in the first sentence of\nparagraph one of subsection (e) of section four thousand two hundred\nthirty-one of this article, or a variable annuity contract subject to\nparagraph one of subsection (d) of section four thousand two hundred\nforty of this article and whose policy or contract shall be in force and\nshall have been in force for at least one year prior to any such\nelection shall be entitled, without further qualification, to vote\nthereat, either in person or by mail or by proxy, as hereinafter\nprovided, except that any company may adopt a resolution amending its\ncharter or by-laws so as to provide that all voting by policyholders for\ndirectors sha
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