Farmers Mutual Insurance Co Bent Co

“As a mutual insurance company all policy holders are considered members of the company. Each policy holder has a voting right and elects the governing board of directors. The board of directors makes decisions to the operation of the company.”

“Policy holders in the mutual insurance company are members. The members have an annual meeting to elect the governing board of directors.”

“The governing body makes decisions and an annual meeting is held to approve the decisions the board of directors make in regard to policy.”

“The governing body is provided with a copy of the tax return. It is reviewed and any questions are answered. The return is signed by the appropriated officer and filed.”

“Each year if a conflict of interest exist, the affected board member is required to disclose the nature of the conflict in writing to the other members of the governing body. If an issue is brought before the board that involves the conflict that board members must abstain from voting.”

“All organizing documents, conflict of interest policy, tax returns, and financial statements are available for inspection. A request for inspection is required in writing. The desired documents are made available in the time required by law to the interested party. If for some reason the documents cannot be made available in the required time notice is given as to why it cannot be done and when the document will be available.”

“Farmers mutual insurance company of benton county and cfm insurance, inc. Were consolidated into one operating mutual insurance company. Cfm insurance will assume all existing policies and all liabilities of this organization.”

“Transfer of assets -946,968.”