Shares and Participation. 4.01 Each of the prospective Shareholders shall purchase and hold one “A” share of the capital stock of the Company for which it shall pay a minimum of ten thousand dollars ($10,000). Any applicant desiring to purchase insurance or reinsurance from the Company shall, upon meeting the eligibility requirements of Section 2.01 and receiving written approval of the Chief Executive Officer of the Company or his designee pursuant to such reasonable conditions, criteria and procedures as the Board of Directors shall from time to time determine, sign and become a party to this Agreement concurrently with the purchase of its “A” share of the Company's capital stock.
Appears in 13 contracts
Samples: Shareholders Agreement, Shareholders Agreement, Shareholder Agreements
