Texas Insurance Code
§ 463.053 — BOARD OF DIRECTORS
IN § 463.053Title 4. REGULATION OF SOLVENCY · Part D. GUARANTY ASSOCIATIONS · Ch. 463. TEXAS LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION · Art. B. GOVERNANCE OF AND PARTICIPATION IN ASSOCIATION
Statute text
View on source(a)The association's powers are exercised through a board of directors consisting of nine individuals appointed by the commissioner as provided by this section.
(b)The commissioner shall appoint three board members from officers or employees of the 50 member insurers having the largest total direct premium income according to the most recent financial statement on file on the date of appointment.
(c)To give fair representation to member insurers, the commissioner shall appoint two board members from member insurers other than insurers described by Subsection (b), considering the varying categories of premium income and geographical location. (c-1) The commissioner shall consider, among other things, whether the directors appointed under Subsections (b) and (c) fairly represent the member insurers that are health maintenance organizations and life, health, and annuity insurers.
(d)The commissioner shall appoint four board members who are public representatives. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007. Amended by:
Legislative history
Acts 2019, 86th Leg., R.S., Ch. 432 (S.B. 1153), Sec. 5, eff. September 1, 2019.