Cal. Insurance Code § 4010 : California Insurance Code — Classes Of Insurance — General Mutual Insurers — General Provisions — Mutual insurer defined Date: 15 Sep 2016 TEXT PDF Current through the 2016 Legislative Session A "mutual" insurer is an insurance corporation without capital stock owned by its policyholders collectively, who have the right to vote in the election of its directors. Ca. Ins. Code § 4010