Texas Insurance Code

§ 463.055 — TERM; VACANCY

IN § 463.055Title 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

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(a)Board members serve staggered six-year terms, with the terms of three members expiring each odd-numbered year. A member may be reappointed.

(b)A board member shall serve until a successor is appointed.

(c)If a board member who is an officer or employee of a member insurer ceases to be an officer or employee of the insurer, the member's office becomes vacant.

(d)The commissioner shall appoint an individual to fill a vacancy on the board for the unexpired term.

Legislative history

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