The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise: "Insurance corporation" or "domestic insurance corporation." A domestic business corporation that is engaged in the business of writing insurance or reinsurance as principal and as such is subject to regulation by the Insurance Department. "Mutual insurance company." An insurance corporation that is organized on the mutual principle. SUBCHAPTER B POWERS, DUTIES AND SAFEGUARDS Sec. 3121. Bylaws. 3122. Distributions by insurance corporations.
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