Texas Insurance Code

§ 462.052 — BOARD OF DIRECTORS

IN § 462.052Title 4. REGULATION OF SOLVENCY · Part D. GUARANTY ASSOCIATIONS · Ch. 462. TEXAS PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION · Art. B. GOVERNANCE OF ASSOCIATION

Statute text

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(a)The association's powers are exercised through a board of directors consisting of nine individuals.

(b)Member insurers shall select five insurance industry board members, subject to the approval of the commissioner. In approving selections to the board, the commissioner shall consider whether all member insurers are fairly represented.

(c)Four board members must be public representatives appointed by the commissioner.

Legislative history

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.